Relationship Marketing in Consumer Context
Added on 2019-12-03
12 Pages3537 Words157 ViewsType: 157
Marketing
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Marketing Management
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1STRATEGIES ADOPTED FOR THE RELATIONSHIP MARKETING......................................1STEPS TO RETAIN THE CUSTOMERS......................................................................................3STRUCTURE OF RELATIONSHIP MARKETING.....................................................................3RELATIONSHIP MARKETING MODELS..................................................................................5RELATIONSHIP MARKETING IN THE CONTEXT OF THE BUSINESS MARKETING......6RELATIONSHIP MARKETING IN THE CONTEXT OF CONSUMER MARKETING............7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
Relationship marketing has become increasingly important in business and consumermarketing contexts. Discuss what we mean by relationship marketing and why it is risen inimportance.INTRODUCTIONMarketing is an organizational function and the set of operations adopted by a businessunit with the purpose of selling and delivering the services and products to the customers. Theimportant aspect of the marketing is managing the customer relationships. It benefits thestakeholders and organization with significant optimal returns. This form of marketing refers tothe Relationship marketing which emphasize on the customer loyalty and retention with longterm engagement in contrast to the traditional approach which focus on the sales transaction andconsumer acquisition. Relationship marketing today is the principal business driver whichgenerate benefits to both the parties the business unit and the consumer by building the strongand enduring relational bonds (Hult. and et.al, 2004). Relational constructs proves to be moreworthwhile in improving performances in the context of services and product offerings.Relationship marketing is the facet of the customer relationship management. Thereinforcement of bonds between the trader and the customer represents the paradigm shift inmarketing. Constructing strong bonds depends on the effectual relationship marketing programsand the other crucial elements of the organization. Relationship marketing has the potentialoverlapping with the other marketing dimensions such as the business marketing i.e. B2Bmarketing and the consumer marketing i.e. B2C marketing. Relationship marketing refers to themarketing practice of selling goods to the mediator’s business units rather that directly appealingthe consumers whereas Consumer marketing refers to direct response marketing campaigns tothe buyers (Richards and Jones, 2008).STRATEGIES ADOPTED FOR THE RELATIONSHIP MARKETINGThe relationship building investments are done to target the optimal returns. The relationshipbuilding is the dynamic process which undergoes many stages of evolution. The success dependsupon the perspective of the implementer and the models used to derive the locus of benefits. Inorder to discrete the relational transactions following ways are incorporated:Networking: The long term strategy of networking to widen the customer base bringstremendous results to the business. Building the inter-firm and interpersonal helps in1
developing the frameworks for the wide range of relational constructs. Through variousmeans of networking consumers- producer can be build strong. The key components instrengthening the networking are the great content which easily captures the attention,marketing tools which brings the traffic and addressing the calls to the actions to bringthe results. Networking can be enhanced by sourcing the target rich environment whichoptimizes the time, linking in online marketing such as social media marketing to coverthe wider stream of targets, good follow up after meeting the clients.Introductions: It is the immediate precursor of constructing relationship.Client’s events: To get linked to the swathe of the customers and the clients, hosting theclients events deepen the company's relationships with the clients (Hult. and et.al, 2004).Clients follow-up: To enlarge the customer base, the continuous rational follow-up ofcustomer is must for the discrete relationship between customer and business man.Following the customers to know their concerns and preferences. Offering benefits andthe product line to the customers that fulfills their desires and rewarding the loyalcustomers is the positive steps in building strong relationship with the customers.Acknowledging the customers for being with them brings the long lasting impact.Build a strong brand identity: To capture the attention of the large number of people, thefundamental requirement is building the organization which the customers identify forthe products and the services offered. The organization with attractive features such asthe creative logo, winning slogan and the unique theme make the long lasting impact.High quality websites: This is the very impact-full and effectual means to stay in contactwith the customers. The website with user friendly interface and easily navigable contentproves very helpful for the new and existing customers (Cova. and Salle, 2008).Client communication: The prerequisite for the strong building of the relationships.Keeping the customer's perception and preferences as the core of the business is thecrucial factor. Valuing and respecting the customers increases their confidence andloyalty for the products and services of the business. By endowing the customers with thevaluable in formations, offers, new product offering and news about the events keeps thecustomers in continuous reach and makes the business unit easy accessible and affablefor the clients.2
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