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What Is The Importance Of Relationship Marketing

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INTODUCTION Relationship marketing requires the adaptation of practices and methods of marketing communications. The author will define relationship marketing and the importance of relationship marketing. The author will also discuss characteristics of a relationship marketing programme and important factors that should be addressed when undertaking such a programme for the organization. RELATIONSHIP MARKERTING Kotler, (2007) defines relationship marketing as the process in which the construction, cultivation and strengthening of strong value laden relationships with customers and other stakeholders occur. (Kotler et al. 2007) Relationship marketing can also be defined as a marketing strategy that focuses on customer retention and satisfaction rather than mainly focusing on sales transactions. IMPORTANCE OF RELATIONSHIP MARKERTING CUSTOMER LOYALTY Relationship marking is very important to an organization because it can lead to customer retention and loyalty. According to Oliver, (1997) Loyalty is a close bonding between the consumer and the seller which results in frequent purchase of a certain product or service from the same supplier, despite the influence from other competitors which has the potential to evoke switching behaviour in consumers. (Oliver, 1997) Therefore, customer …show more content…

Organizations can increase creativity and problem solving with the use of cross functional teams because members of cross functional teams come with different experiences, knowledge and expertise. Working together as one cross function team can be more effective than each member of the team working alone. In addition, in cross functional organization products and services delivered are developed cooperatively with suppliers and distributors with the aim of satisfying

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