Relationship Marketing

by eFactor Digital Web Developer

This is a marketing strategy designed to achieve long-term relationships with customers, suppliers, and distributors to improve overall profitability and success. Customer profile, buying patterns, and history of contacts is maintained in a sales database, and a service representative (also called account executive) is assigned to one or more major customers to fulfill their needs and maintain the relationship.

Relationship marketing involves the application of the marketing philosophy to all parts of the organization. Every employee is said to be a "part-time marketer". The way Regis McKenna (1991) puts it:

"Marketing is not a function, it is a way of doing business... marketing has to be all pervasive, part of everyone's job description, from the receptionist to the board of directors."

This is the combination of strategy and processes used to learn more about customers' needs and behaviors in order to develop stronger relationships with them.

Relationship Market

Relationship Market is a Mutual Understanding between the Parties to Market their Products mutually between the Parties in the respective countries. Here in this Marketing both the Parties will be benefitted in Marketing their Products at the respective Places where they are not having Marketing Channels. This is a Proven performed Marketing method in the Present Marketing strategy.

The overall aim is to identify relevant factors that influence the effect of satisfaction on the retention of clients. Based on considerations derived from economics of information theory, it is revealed that apart from the speed of technological progress, the possibility of assessing product quality is a significant driver for customer satisfaction as a source of retention.

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