Schneider (1980) expressed that for many years businesses only focused on how to entice new customers in to their service or product without thinking about how to keep the customers they have already acquired. However recently businesses have realised their mistake as the theory of relationship marketing is relatively old, but only recently has it has been put in to practice more and more.
‘Attracting, maintaining…enhancing customer relationships.’
One major asset to a company is its relationships, whether that is with customers, employees, suppliers, distributors, dealers, and retailers. Nevertheless relationship marketing mainly focuses on their customers and a long-term strategy on how to do keep the loyalty of them. With a focus on loyalty, retaining and long-term relationships, the aptly named practice of “relationship marketing” is created around developing stable and strong networks and connections with customers by straightforwardly providing them with material and information that is custom-made to…
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