Domain of Relationship Marketing

Relationship marketing requires the organisation to get to know its customers, their needs and their motivations. Based on this knowledge, the organisation then develops programs which are designed to increase the value of the customer to the organisation. These programs often include actions such as setting up loyalty schemes, pro-actively contacting customers to ensure satisfaction of developing special offers available to only certain categories of customers, all of which are focused on increasing the value of the customer to the organisation.

Relationship marketing is to identify and establish, maintain and enhance and, when necessary, also to terminate relationships with customers and other stakeholders, at a profit, so that the objectives of all parties are met, and that this is done by a mutual exchange and fulfilment of promises.

Core concepts of relationship marketing

The traditional approach of marketing which emphasises gaining new customers and larger market share ...