Relationship Marketing

Relationship marketing can be defined as attracting, maintaining and enhancing customer relationships and its importance is increasing with the intensifying level of competition for all industries. Rossiter and Percy (1998, p.55) offer the definition of relationship marketing as the maximisation of long-term gain for the consumer, as well as, manufacturer. The essence of relationship marketing is related to building long-term relationships with customers instead of conducting one-time transactions with customers.

The objectives of relationship marketing are “to identify and establish, maintain and enhance, and, when necessary, terminate relationships with customers and other stakeholders at a profit so that the objectives of all parties involved are met” (Brink and Berndt, 2009).

References

Brink, A. & Berndt, A. (2009) “Relationship Marketing and Customer Relationship Management” Juta Publications

Rossiter, JR & Percy, L, 1998, Advertising Communications and Promotion Management, 2nd ed., Boston, McGraw-Hill.