BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Relationship marketing is a facet of customer relationship management (CRM) that focuses on customer loyalty and long-term customer engagement rather than shorter-term goals like customer acquisition and individual sales.

Detailed explanation-2: -Relationship Marketing is a strategy of Customer Relationship Management (CRM) that emphasizes customer retention, satisfaction, and lifetime customer value. Its purpose is to market to current customers versus new customer acquisition through sales and advertising.

Detailed explanation-3: -The services marketing concept combines customer focus, co-ordinated marketing and profitability. Many organisations today, wish to invest in long term relationships with their customers. Indeed, you may be familiar with the use of ‘loyalty’ cards as a strategy to engage with customers.

Detailed explanation-4: -There are many levels of relationship marketing: basic, reactive, accountable, proactive and partnership marketing. All achieve the same goal of deeper, more meaningful connections with prospects and customers.

Detailed explanation-5: -Examples of relationship marketing include proactive customer service, loyalty programs, encouraging feedback, and promoting the benefits of a product rather than just its features.