In Marketing, relationship management is very much essential. Because no tasks of marketing can be done without good relation with related sectors. Here are some strategies to build relationship in marketing:1. Quality Assurance:
Marketers promise and deliver high quality products at fair prices to customers. This promotes long term loyalty and relationships. Consistence and conformance to standards if ensured for quality.
2. Economic Benefits (Financial Benefits):
Strong economic ties are built with customers. This can take the form of:
a) Frequency marketing programme: Key customers who buy frequently are given attractive discounts and rewards. Generally 20% of customers account for 80% of the sales.
b) Club Membership Programmes: Club membership is given to customers. Attractive discounts and other benefits are given to the members. Book club is an example.
3. Social Benefits:
Organizations increase social bonds with customers by:
a) Individualizing and personalizing customer relationship. They provide social recognition to the customer.
b) Organizing customer get together to meet and enjoy each other.
4. Technical Benefits:
Organizations develop technical ties with their key customers. Such ties are mostly technology based. They help the customer to better manage their marketing efforts. They can be:
- Developing Electric Data Interchange (EDI) capabilities to help customers manage orders, inventory, shelf space etc.
- Supplying computer linkages to customers, including software programme.
- Launching targeted customer loyalty programmes for building customer relations to retain customer's long term loyalty.
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