This kind of marketing is based on the concept of marketing which come out from the direct response marketing campaigns that are heavily in favor of the customer that he would be retained and will be satisfied at the same place. They watch it as marketing efforts and the customer services are inseparable.
Relationship marketing is totally customer oriented one. It doesn’t emphasis on the company’s sale targets neither it considers profit margins while campaigning. It just emphasis on the customers favorable response towards the products and they immensely want to reach the customer’s threshold level of satisfaction towards that product. It values basically the customer’s long term relationship and in order to make him a true friend amongst all ,an organization works hard to do so through relationship marketing.
In relationship marketing organizations commit affectionate and effective communications with customers and leave behind the heavy promotional and intrusive marketing efforts. With the help of collaborative social platforms provided by the great technologies of 21st century people have more involvement in advance pathways of communication and that is internet which has filled up the gap that used to exist between the marketer’s messages and the customer’s understandings. Relationship marketing has become a famous trend in marketing and has the faster pace in evolving. In order to manage the relationship with customer, a marketer has to keep in his mind some important demographic profile of the customer and customer service data as well. This aspect also covers the CRM concept in marketing. (Michael, Pg 68, 2006)
Relationship marketing is widely acknowledged tool and the one selected among all effective strategies by many famous marketers through out the world. Relationship marketing has a quality of interacting company with its prime clients as well. Its goal is to first find its interesting clients then attract those clients and then finally retain those clients and assure them the benefits they will surely get and on the other hand sales prospects are also willingly estimated and the company also intent that costs of services are reduced entirely.
When there is an prolonging need of any particular product in the market and there are number of competitive products available there then somewhere the customer needs some strong recommendations from his insight about the product as there would be many product alternatives in front of him and he is to choose from them so Here relationship marketing is applied effectively as it is a mutually profitable and worthy arrangement where both marketer and the buyer are interested in making most worthwhile exchange. At the most customer’s value is highly enriched in this way. This is the reason why relationship marketing is being called as relationship management as it involves all the aspect of the company and blend with each other. (Michael, Pg 68, 2006)
Michael Kleinaltenkamp, (2006), Relationship theory and business markets, Emerald Group Publishing, Page 68