A Presentation On

Relationship Marketing
By: Nilesh Dhurve Section A-09

Contents
Definition
Importance Scope Development Satisfaction Retention Conclusion

Definition
Relationship marketing:

Relationship Marketing is a marketing strategy whose objective is to establish and maintain a profitable, long-term relationship with a customer, which goes beyond the initial contact.

Importance
Customer relationships are the lifeblood of every good company. Loyal relationships with these valued individuals make for a strong bottom line. So, Why do so few companies focus on customer relationship marketing ?

Scope
Relationship marketing has also been strongly

influenced by reengineering concepts.

Cross-functional teams should be responsible for a

whole process, from beginning to end.

4 ps of Marketing mix.

Development
Relationship Marketing refers to a long-term

arrangement.
Simple purchase-exchange process with a customer. According to Liam Alvey, relationship marketing can

be applied when there are competitive product alternatives for customers to choose from; and when there is an ongoing and periodic desire for the product or service.

Satisfaction
Relationship marketing relies upon the

communication and acquisition of consumer requirements.

Customer satisfaction-service
Relationship marketing is large, accurate and relevant.

Retention
A key principle of relationship marketing Counterbalancing new customers and opportunities

with current and existing customers.

This process of "churning" is less economically viable

than retaining all or the majority of customers using both direct and relationship management as lead generation via new customers requires more investment.

Conclusion
Finally we can suggest that what the new-age marketer requires is the foresight and they shouldnt get caught by the marketing myopia and look beyond their usual ways to think out of the box and innovate new tricks to cater the customers in a more profitable way which will make the bond between the customers and the company stronger.

THANK YOU