RELATIONSHIP MARKETING

Relationship Marketing

[Name of the Institute]

Introduction3

Discussion3

Significance of Relationship Marketing4

Relationship Marketing and International Marketing6

Examples of Relationship Marketing8

Conclusion9

References10

Relationship Marketing

Introduction

Marketing is one of the most important aspects of any organization as it helps in creating awareness and promoting the brand and products. There are different types of marketing strategies, which help organizations in successfully marketing their products and services. It is a process through which value is created, communicated and delivered or exchanged between an organization and customers, clients and businesses. Marketing is considered as the backbone of any organization as it involves all the major functions that helps the organization is successfully dealing with its customers. Relationship marketing is a strategy, which helps in building long term relations with customers and it also helps in promoting loyalty among the customers (Conway and Swift, 2000, pp.1391 - 1414).

Relationship marketing is designed to build open communication between organization and its customers. It focuses on customer retention rather than customer acquisition (Eccles, 1991, pp. 131-137). Relationship marketing plays a significant role in success on international marketing. It helps the organization in building good relationships with its customers. This paper focuses on how relationship marketing plays a role in success of international marketing. It will help in determining the role of relationship marketing in success of business in international market.

Discussion

Relationship marketing helps in understanding the marketing is solely not related to dealing with competition; rather it is related to mutual interdependence and cooperation. An organization involves various parties - employee, distributors, suppliers, retailers and dealers cooperating with each other to deliver the best value to its target customers.

Significance of Relationship Marketing

Relationship Marketing focuses on customers and partners of the organization; rather than on the company's products. It aims to provide information to the customers regarding the product that can help them in fulfilling their needs and requirements. Customers are valuable for organization, and it is necessary to develop good relationships with them (Eccles, 1991, pp. 131-137). Relationship marketing plays an important role in domestic market as well as in international context. Today, many companies have expanded their operations in the international market. In this expansion, companies have to deal with various factors. In order to build long term relationship with people, companies can use relationship marketing (Ambler and Roberts, 2005).

Relationship marketing plays a significant role in the success of organization. It helps the business in emphasizing on customer retention and growth by providing them valuable customers (Palmatier, Grewal and Evans, 2006, pp. 136-153). Relationship marketing depends on cross-functional teams working together to serve their customers with valuable products. It promotes the interrelationship and interdependence of departments; rather than departmental level work. Relationship marketing is a business marketing strategy that helps in building a link between all its departments. Every organization consists of various departments, which include finance, marketing, accounts, sales, production and packaging departments. It is necessary that all these departments work together to fulfil the needs and demands of customers (Conway and Swift, 2000, pp.1391 - ...