Relationship Marketing: Impact and Challenges

THE BUSINESS PROJECT

ABSTRACT
The current research is related to the topic relationship marketing in order to attract the new set
of consumers for the company. This is very essential for the company to manage the marketing
of the company as if the company will not market the goods and services in proper manner then
the consumer will not like this. Thus, the present research discussed about the various impact of
using the relationship marketing like the increase in goodwill, sales, and other positive impact.
Further with help of the literature review certain challenges and impact was discussed relating to
the relationship marketing. Further in the research methodology segment the current study,
qualitative study has chooses in order to provide in depth analysis that assist to meet the define
aim and this in turn leads to determine the importance of relationship marketing for draw
attention of many customers. Also, by using both primary and secondary data collection method,
scholar also assist to answer the research question which in turn help to conduct entire study in
precise manner. Further with help of data analysis of the collected facts and figures it was seen
that using relationship marketing is very helpful for company in gaining competitive advantage.
In the end some recommendation was made like improving after sale service, understanding
requirement of consumer and many others.

ACKNOWLEDGEMENT
I would like to express the deepest obligation towards all the personage who helped me in
endeavour. Without their active guidance, help and cooperation, I would not have made headway
in the project.
I am extremely thankful and pay my gratitude to my faculty who guide me and provide their
valuable guidance to complete the project. I also thankful and acknowledge the deepest gratitude
towards my parents and member of my family who support me economically.
Last but not the least, i would like to thank my friends who support me and without your support
I would not able to complete the project.
Thanking you.

Table of Contents
CHAPTER 1: INTRODUCTION....................................................................................................5
CHAPTER 2: LITERATURE REVIEW.........................................................................................7
CHAPTER 3: RESEARCH METHODOLOGY...........................................................................11
CHAPTER 4: DATA ANALYSIS AND INTERPRETATION....................................................14
CHAPTER 5: CONCLUSION AND RECOMMENDATIONS...................................................26
Conclusion................................................................................................................................26
Recommendations.....................................................................................................................27
REFERENCES..............................................................................................................................29
APPENDIX....................................................................................................................................31
Questionnaire............................................................................................................................31

CHAPTER 1: INTRODUCTION
Marketing is the most essential thing for the company to face the intense competition
within the global market. This is particularly because of the reason that when the competition
within the market is very high then at that time the marketing of the goods and services only
helps in managing the sales and income of the company (Hoque, Awang and Salam, 2017).
Without effective marketing no business can run and operate in this highly competitive global
business environment. In respect of marketing the goods and services of the company the
relationship marketing is a newer and effective concept. Relationship marketing is a type of
marketing which focuses on the loyalty of consumer and the managing of long term relation with
the consumer.
The major aim of the relationship marketing is to create a long term connection with the
consumer so that the sales of the company is increasing. The current report is based on company
BMW which is Bayerische Motoren Werke AG which is a German multinational company
producing the luxury vehicles and motorcycles. The company was founded in the year 1916 and
is headquartered in Munich in Germany. The current research will focus over the impact which
the relationship marketing has in attracting the consumer with help of social media. Also, the
challenges faced by the company in managing and using relationship marketing will be analysed
within the whole research.
Aim of the research: “To investigate the importance of relationship marketing to attract new
customers using social media: A study on BMW”
Objectives:
 To understand the concept of relationship marketing
 To examine the impact of relationship marketing upon attracting customer using social
media.
 To analyse the challenges faced by the company while using relationship marketing
 To recommend the ways through which company is able to overcome the challenge face
by BMW.
Research question
1. What is the concept of relationship marketing?
2. What is the impact of the use of relationship marketing upon attraction of consumer with
help of social media?

3. What are the various challenges being faced by the company at time of using the
relationship marketing?
4. What are some of the suggestion for the company to overcome the challenges being faced
by BMW?
Rationale
The competition within the market is very high and intense because of this the consumer are very
diversified and do not switch to any of the company. Thus, in this type of working environment
it is very necessary for the companies to have effective marketing strategies so that they are able
to attract more of the consumers. Thus, the research topic was selected because of this reason
only so that the companies can understand the concept of relationship management and also the
various benefits and challenges of using this type of marketing in the running of the business.
also, in addition to this the major reason behind the selection of relationship marketing as a
research topic is the personal and academic interest of the researcher as well.