Relationship Marketing

Relationship market refers to the benefits that ongoing relationships with key nodes can plant to an organization. Relationship Marketing is a marketing strategy whose aim is to establish and maintain a profitable, long-term relationship with a customer, which goes beyond the initial contact. Relationship marketing is a crop of marketing that evolved from direct response marketing, it places emphasis on construct longer-term relationships with customers rather than on individual transactions. Relationship marketing involves an sympathy of customers needs and wants through their lifecycle and providing a range of products or go accordingly. The term relationship marketing was popularised in the 1980s when the cogitate of marketers started to switch from customer acquisition to customer retention. The concept was strongly influenced by reengineering theory, which was gaining currency at the same time: organisations undergoing reengineering became structure according to complete tasks and processes rather than functions, i.e. cross-functional teams should be responsible for a whole process, from beginning to end, rather than having the work go from oneness separate functional department to another.

Traditional marketing is express to use the functional department approach, which is now deemed too limit to provide a usable framework for assessing and developing customer relationships. In todays sophisticated consumer environment, an alternative framework where the focus is on customers and relationships rather than markets and products is now required. Relationship marketing is cross-functional and is organised around processes that involve all aspects of an organisation. Many commentators select to call it Relationship Management in recognition of the situation that it involves much more than that which is normally included in marketing and the practice of relationship marketing has been greatly facilitated by some(prenominal) generations of Customer... If you want to get a full essay, order it on our website: Orderessay

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