Daffodil International University

Faculties and Departments => Business & Entrepreneurship => Business Administration => Topic started by: munna99185 on April 28, 2014, 01:08:52 PM

Title: Relationship marketing
Post by: munna99185 on April 28, 2014, 01:08:52 PM
Relationship marketing is a strategy designed to foster customer loyalty, interaction and long-term engagement. This customer relationship management (CRM) approach focuses more on customer retention than customer acquisition. Relationship marketing is designed to develop strong connections with customers by providing them with information directly suited to their needs and interests and by promoting open communication. This approach often results in increased word-of-mouth activity, repeat business and a willingness on the customer’s part to provide information to the organization. Relationship marketing contrasts with transactional marketing, an approach that focuses on increasing the number of individual sales. Most organizations combine elements of both relationship and transaction marketing strategies.

Sayed Farrukh Ahmed
Assistant Professor
Faculty of Business & Economics
Daffodil International University

Title: Re: Relationship marketing
Post by: Farhananoor on May 08, 2014, 10:08:54 AM
Good post.
Title: Re: Relationship marketing
Post by: Jeta Majumder on May 18, 2014, 05:23:41 PM
very good post...  :)
Title: Re: Relationship marketing
Post by: M H Parvez on July 19, 2014, 12:15:08 PM
Relationship marketing has also been strongly influenced by reengineering. According to (process) reengineering theory, organizations should be structured according to complete tasks and processes rather than functions. That is, cross-functional teams should be responsible for a whole process, from beginning to end, rather than having the work go from one functional department to another. Traditional marketing is said to use the functional (or 'silo') department approach. The legacy of this can still be seen in the traditional four P's of the marketing mix. Pricing, product management, promotion, and placement. According to Gordon (1999), the marketing mix approach is too limited to provide a usable framework for assessing and developing customer relationships in many industries and should be replaced by the relationship marketing alternative model where the focus is on customers, relationships and interaction over time, rather than markets and products.

Title: Re: Relationship marketing
Post by: shahanasumi35 on August 15, 2014, 01:48:49 AM
Good post. Thanks for sharing.
Title: Re: Relationship marketing
Post by: sajib on August 26, 2014, 04:42:29 PM
Marketing activities that are aimed at developing and managing trusting and long-term relationships with larger customers.

In relationship marketing, customer profile, buying patterns, and history of contacts are maintained in a sales database, and an account executive is assigned to one or more major customers to fulfill their needs and maintain the relationship.

Read more: http://www.businessdictionary.com/definition/relationship-marketing.html#ixzz3BUcYG0rQ