Relationship Marketing

ABSTRACT

Relationship marketing developed from direct response marketing campaigns which emphasizes customer retention and satisfaction with a focus on customer loyalty and long term relationship.

It is designed around developing strong connections with the customer by directly providing them the information that is tailored to their needs, wants and interest.

The hallmark of relationship marketing is customer retention and brand loyalty that ultimately eliminates the extra cost of customer acquisition.

According to Bain & Coy analysis, it is 6 to 7 time more expensive to acquire a new customer than to keep a current one. Relationship marketing eliminates high customer churn rate.

Relationship marketing recognizes: