How relationship marketing has developed

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How relationship marketing has developed?

Definition of marketing

Marketing is the management process responsible for identifying, anticipating and satisfying customers’ requirements profitably

What is relationship marketing?

Relationship marketing is the management process responsible for identifying anticipating and satisfying customers’ requirements profitably.

Difference between transactional and relationship marketing

The difference between relationship marketing and transactional marketing is that transitional marketing is about boosting sales and marking one off sales with customers whereas relationship marketing is when the business really cares about their customers and try to keep them coming by offering them deals and  offers all the time. In relationship marketing businesses also offer customers loyalty cards and quality on all products they purchase.

How and why relationship marketing has developed?

Relationship marketing has developed for many reasons, but the most important of them is that nowadays it is getting more and more difficult for businesses to attract new customers without which they would be unable to grow as their business. It is difficult for businesses to attract new customers because of the competition that already exists between most businesses. Every business is trying to grow and expand by attract more customers.

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Lifetime customers is a crucial benefit for all businesses and there are reasons why that is, some of the reasons for that are:

  • Businesses can rely on Lifetime customers to boost their profits and sales because Lifetime customers make up about 80% of sales from a business
  • Lifetime customers help a business grow further and expand
  • Lifetime customers also promote the name of business further by telling their friends or relatives how great the business is

Importance of the functions of customer services and quality in relationship marketing

In relationship marketing, it is really important ...

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