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Marketing
Asked a question 2 years ago

What do you mean by relationship marketing?

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Relationship marketing is based on customers only. it is made to fulfill the various needs, wants and desires of the customers in the market . This type of marketing tells about relationship which means relationship with the customers. We all know that relationship is filled with lots of emotions, understanding, empathy and these all a marketer should consider while making strategies for marketing, must think from the consumers point of view like what they think of the product, what are high income and low income customers prefer to spend on product and how much, what all it takes to connect with the customer. Maintaining a relationship which will help marketers in better knowing the emotions attached of the customer with the product and think what would they do if they were the customers and understanding their behaviour. Just like brand equity, if a company's brand is well known to the customer and it has brand loyalty towards customers so that customers are willing to buy only their product by not giving it a single thought. Customers would never switch towards another brand as marketers and the company have already maintained their relationship in a way.