Relationship Marketing Assignment - Doc

Running head: BUSINESS RESEARCH
Impact of Relationship Marketing Strategies on Business Performance and Customer Retention
Name of the Student
Name of the University
Author’s Note

1BUSINESS RESEARCH
Table of Contents
1. Introduction..................................................................................................................................2
2. Objectives of the Project..............................................................................................................2
3. Scope of the Project.....................................................................................................................3
4. Literature Review........................................................................................................................3
5. Research Questions......................................................................................................................6
Primary Question.........................................................................................................................6
Secondary Questions...................................................................................................................6
6. Research Design and Methodology.............................................................................................7
Quantitative Research Method....................................................................................................7
Qualitative Research Method......................................................................................................7
Sample Size and Sampling..........................................................................................................7
Data Analysis...............................................................................................................................8
Reliability and Validity of Data...................................................................................................8
7. Research Limitations...................................................................................................................8
8. Time Schedule.............................................................................................................................9
9. Conclusion...................................................................................................................................9
10. References................................................................................................................................11

2BUSINESS RESEARCH
1. Introduction
In today’s business world, Relationship Marketing (RM) plays an integral part for the
success of the companies (Hollensen 2015). RM can be considered as a part of customer
relationship management that put focus on the aspects like customer loyalty and long-term
engagement with the customers. Thus, it can be said that RM is a tool for creating and
maintaining long-term relationships with the customers that is helpful in generating greater
amount of revenue for the companies. Long-term relationships with the customers help the
marketing managers in the development of effective marketing strategies so that the performance
of the companies can be improved (Christopher, Payne and Ballantyne 2013).
2. Objectives of the Project
The objectives of this research paper are shown below:
I. The main objective of this research paper is to analyze and evaluate the impact of RM on
the performance of the companies. With the help of this research paper, one will be able
to get insight about how RM deals with the establishment of customer relationship and
their advancements.
II. The next objective of this research paper is to analyze the role of RM in getting
competitive advantage for the companies.
III. Another major objective of this research paper is to analyze the impact of RM on
different associations of the companies.

3BUSINESS RESEARCH
IV. The last objective of this research paper is to analyze the advantages of RM for the
customers and associates.
3. Scope of the Project
It needs to be mentioned that this research project has many scope. With the
implementation of the strategies of relationship marketing, business organizations become able
to strike a balance among the new business opportunities, making new customer base along with
retaining the existing customers so that the profitability of the companies can be maximized. In
addition, business organizations will be able to identify the loopholes in their marketing
strategies with the help of this. Thus, it can be seen that the companies will be largely beneficial
from the implementation of RM in their marketing strategies (Peck et al. 2013).
4. Literature Review
Relationship Marketing (RM) is not a new idea in the field of marketing as the use of it
can be seen over the last twenty years. RM has an important influence on the marketing aspects
of the companies along with the administrative mechanism. It can be seen that many business
organizations have been able to improve their performance by impeding the strategies of RM
(Halinen 2012). For this reason, in this era of business, one cannot simply ignore the importance
of RM for improving the performance of the companies. In the techniques of RM, one can
observe that there are four major values. First, RM does not put focus on any specific aspect of
marketing as it covers all the marketing aspects of the entire organization. Secondly, the
implementation of RM makes the companies able to share business value with all of their major
stakeholders like customers, associates and others. Third, the implementation of RM helps in
adding intelligence in the process of marketing so that the clients can be largely beneficial.