Essay - Marketing Relationship Marketing Entails Developing Long-term Commitment and Brand Loyalty....

Marketing

***** marketing entails developing long-term commitment and br***** loyalty. Customers who consistently receive communications and information from vendors will be more likely to continue doing business. If the cus*****mer is dissatisfied, these communications ***** allow all complaints to be voiced so that the vendor can effectively change ***** nature of the product or service. Fitting products and services to cus*****mer needs is an essential aspect of successful, profitable business operations. Through relationship marketing, businesses have the opportunity to keep abreast of customer opinions *****d discover ways in which they ***** change to meet the changing demands ***** the market. Relationship marketing also gives those companies that use it a competitive advantage over those that do not and therefore offers the ***** to become an industry leader.

*****, relationship ***** poses many challenges for *****. First, large corporations cannot af*****d to employ some of the techniques *****d in relationship marketing because of the enormous size of the potential new customer base. In the case ***** large *****, mass ***** techniques must be used initially, to create brand awareness and alert consumers. Creating a database of customers is costly and time-consuming and would involve hiring many ***** customer service personnel as well as marketing directors to make sure that customers were indeed engaging in a "rel*****tionship" with the business over time. The difficulty with relationship marketing is ***** it can be more costly and involved than m*****s marketing and the payoffs often aren't v*****ible for long periods of *****. This, though, is the essence of ***** marketing: developing ***** customer relationships and commitments that last over time. Such long-term ***** may indeed prove more profitable than short-lived sales. Furthermore, having fewer ***** customers that are targeted through relationship ***** may prove cheaper than luring potential new ***** constantly through mass marketing