ECONOMICS (CBSE/UGC NET)

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 designed to foster customer loyalty, interaction and long-term engagement. It is designed to develop strong connections with customers by providing them with information directly suited to their needs and interests and by promoting open communication.

Detailed explanation-3: -Relationship Marketing Era (1990s-2010): During the relationship marketing era, the focus is not only on creating relationships with customers but also long-term relationships. The ultimate goal for businesses is to create customer loyalty.

Detailed explanation-4: -A pull marketing strategy, also called a pull promotional strategy, refers to a strategy in which a firm aims to increase the demand for its products and draw (“pull”) consumers to the product.