Nature and humanity relationship marketing

5 Reasons Why Relationship Marketing is Important in Business

nature and humanity relationship marketing

Who are the individuals developing Relationship Marketing plans and learn Analyzing the nature of customer loyalty is the best method develop a working relationship The human resource manager will lead this training and help instill a. But what distinguishes it from relationship marketing is its nature to by such disciplines as purchasing and logistics management, human. For people, relationships with other humans or with natural communities bring in notions of at more evenly distributing prosperity and reducing market abuses.

However human touch does not necessary create problems for the company but can also serve as a base for strong customer relationship. Relationship marketing can be utilized to the fullest in certain types of market and develop customer relationship to business advantage.

This value begins in the mind with perception about the product and the company. Relationship can add value to customer through following: The company needs to get closer to the customer and start interaction with them. Through the interaction the company is going to understand needs and requirements of the customer. This understanding of expectation may be through personalized marketing, if the product is customized. By close interaction with the customer, company is going working to create a relationship of trust and commitment.

This will help both company and customer make the right decision. As a company progresses it start to look at more standardization and reduce customization. But through relationship marketing and human interaction this standardization can be made more acceptable.

nature and humanity relationship marketing

Customer Requirements A market consists of customer with various needs and requirements. In order to achieve economies of scale, company indulge in mass production, this is applicable to FMCG type of markets. Relationship marketing helps in bringing customer centric approach back. One of the ways is through mass customization. Customized product offer a great value to the customer and can help the company give edge over the competition.

There are four ways through which to achieve mass customization. This is different than most normal advertising practices that focus on a single transaction; watch ad A and buy product B. Relationship marketing, by contrast, is usually not linked to a single product or offer. It involves a company refining the way they do business in order to maximize the value of that relationship for the customer.

nature and humanity relationship marketing

Respect that feedback and incorporate it into the company's business practices. Use any and all social media outlets to connect with customers. Have effective customer monitoring technologies in place. Use clear policies to dictate how all company employees should interact with customers in both positive and negative situations. Leverage the value of warm leads — customers who have already expressed an interest in the company.

Have a comprehensive customer relationship management strategy.

nature and humanity relationship marketing

Conduct regular training sessions for all members of staff. Stay on the cutting edge of product offerings. Do not sacrifice quality for innovativeness. Maintain a high customer satisfaction rate in all areas of the company.

Make an effort to inform customers how much they are appreciated.

5 Reasons Why Relationship Marketing is Important in Business

Relationship marketing mainly involves the improvement of internal operations. Many customers leave a company not because they didn't like the product, but because they were frustrated with the customer service. If a business streamlines its internal operations to satisfy all service needs of their customers, customers will be happier even in the face of product problems.

Technology also plays an important role in relationship marketing.

THE NATURE OF RELATIONSHIP MARKETING by Marili Vihmann on Prezi

The Internet has made it easier for companies to track, store, analyze and then utilize vast amounts of information about customers. Customers are offered personalized ads, special deals, and expedited service as a token of appreciation for their loyalty. Social media sites allow business to engage their customers in an informal and ongoing way. In the past, it would have been impossible to keep useful records about every single client, but technology makes it easy for companies to automate their marketing efforts.

See also Analytical Marketing Branding is the final component of relationship marketing.

nature and humanity relationship marketing

A company can form a long-term relationship with a client if that client feels like the brand they purchase reflects who they are or who they want to be. Customers are less inclined to switch to a different brand if they think that switch makes a statement about their identity. With a person-to-person relationship marketing model you can learn first hand, and at no cost to you, what your audience MOST desires. For example, free Wi-Fi in Starbucks was a suggestion from patrons.

Today, because Starbucks listened, its shops are always packed with customers who know they can conduct business AND get great coffee. On the other hand, Borders did not listen to its customers. The company did not make the necessary changes, improvements and additions to keep people coming back, and as a result, the company has now forever disappeared.

You need to have your own flare.

The Nature of Relationships

By instating relationship marketing, you can quickly and easily develop your unique style. You simply have to be yourself and respond confidently to your customers. Business has changed since social media has arrived on the scene.