Description
Define relationship marketing and how it might fit into the mission or vision for any given product in the overall organizational plan. How can the promotional mix elements use relationship marketing to increase customer satisfaction with a brand? How will the consumer buying process differ in a business-to-business (B2B) vs. business-to-consumer (B2C) environment?
Submitted on:
Jan 11, 2024, 7:01 PM
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Alisha Brand
Jan 13, 2024, 7:06 PM
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Greetings Professor and Classmates,
Define Relationship Marketing.
Relationship marketing is the process of developing long-lasting relationships with customers. Through these relationships, companies can promote brand loyalty and encourage customers to make repeat purchases over an extended time period. This strategy focuses on long-term sales goals and customer loyalty rather than short-term increases in sales with one-time customers (Indeed Editorial Team, 2023, sec. What is relationship marketing?). I believe that relationship marketing could fit into the mission or vision of any product because it helps establish a sense of giving the customer a place to keep coming back to almost as if that customer will start to establish loyalty. For customers, it is very important to gather their attention so that way they won’t have to keep shopping at a numerous amount of stores and only label your store or company their favorite. This would in turn help boost sales, promotions, advertisements, and revenue.
Promotional Mix Elements Increasing Customer Satisfaction.
Promotional Mix can be referred to as a combination of promotional tools used by an organization to achieve its communication objectives and some of the elements of promotion mix are as follows: Advertising, Personal Selling, Sales Promotion, Public Relations, Direct Marketing, Sponsorship, Publicity, Marketing Communication Process, and After Sales Service (M, 2019). Using relationship marketing could be used to increase customer satisfaction with a brand by engaging with a large target audience as well as building relations with each customer to establish their loyalty for the company and that brand. Doing this will definitely increase the satisfaction because it allows the customers to see that the brand sees and hears them and cares about their opinion well enough to make changes in order to better fit their preference.
Consumer Buying Process Including B2B vs. B2C
There is a vivid difference in the consumer buying process between the B2B and B2C environment. In a B2B environment the consumer buying process is much more strategic meaning it simply relies on things such as networking, sales calls, conferences and etc. But then you have a B2C which mainly consists of being able to work quick and efficiently enough to resolve issues, as well as ask questions. B2B is slowly but surely getting close to becoming similar to B2B.
Alisha Brand
References
Indeed Editorial Team. (2023, February 3). Relationship Marketing: Definition, Benefits and Examples. Indeed. https://www.indeed.com/career-advice/career-development/relation-marketing
M, S. (2019, February 20). Elements of Promotion mix | products | marketing. Art of Marketing – Learn the Art of Marketing From the Experts! https://www.artofmarketing.org/promotion-mix/elements-of-promotion-mix-products-marketing/13779
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