Relationship marketing | Solutional Webdesign Antwerpen

ALL 0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Relationship marketing is a strategy that emphasizes customer^[1] retention and satisfaction, rather than focusing primarily on sales^[5] transactions. This approach, proposed by Berry and Jackson in the 1980s, posits that it’s more cost-effective to maintain existing customers than to acquire new ones. As such, the goal is to develop strong, long-lasting customer relationships. Relationship marketing has evolved significantly with the rise of the Internet^[3] and mobile platforms, with technology^[2] enabling more collaborative communication channels. It extends beyond simple demographics, incorporating customer service and the use of tools for managing customer relationships and app development. This strategy is applicable in various sectors and competitive markets, offering benefits like increased customer loyalty^[4] and response rates. It’s also key to customer retention strategies, since building strong relationships can lead to higher customer lifetime value. The strategy also involves internal marketing, emphasizing the importance of collaboration, loyalty, and trust within an organization.

Terms definitions

1. ↑ customer.

1 The primary entity in this text is the "customer. A customer is an individual or entity that purchases goods or services from a business. They are crucial participants in the commercial landscape, forming relationships with businesses through transactions. Customers can also be classified as 'clients,' especially when they receive tailored advice or solutions from a business. The term 'client' originates from Latin, implying a sense of leaning or bending toward a business. Customers vary in types - from end customers who directly buy products or services, to industrial customers who incorporate these goods or services into their own offerings. These customers can have different relationships with the business, such as being employers in construction projects. Businesses often segment their customers into different categories, like entrepreneurs or end users, to better understand and serve them. The understanding and management of customer relationships is a critical area of study and practice in business.

2 The primary entity in this text is the "customer. A customer is an individual or entity that purchases goods or services from a business. They are crucial participants in the commercial landscape, forming relationships with businesses through transactions. Customers can also be classified as 'clients,' especially when they receive tailored advice or solutions from a business. The term 'client' originates from Latin, implying a sense of leaning or bending toward a business. Customers vary in types - from end customers who directly buy products or services, to industrial customers who incorporate these goods or services into their own offerings. These customers can have different relationships with the business, such as being employers in construction projects. Businesses often segment their customers into different categories, like entrepreneurs or end users, to better understand and serve them. The understanding and management of customer relationships is a critical area of study and practice in business.

2. ↑ technology. Technology, derived from the Greek words meaning craft and knowledge, is a broad term that refers to the tools, machines, and systems developed by humans to solve problems or fulfill objectives. Originating with primitive tools like stone axes and the discovery of fire, technology has evolved significantly throughout human history. It has been instrumental in different eras, from the invention of the wheel and advanced irrigation systems in ancient civilizations to the birth of universities and printing press during the medieval and Renaissance periods. The Industrial Revolution in the 18th century marked a significant shift in mass production and innovation, giving rise to modern technologies like electricity, automobiles, and digital communication platforms. Today, technology is integral to various aspects of life and society, driving economic growth and societal change, while also raising concerns about security, privacy, and environmental impacts. The future of technology is expected to bring even more advancements, with the rise of artificial intelligence predicted to have significant implications for the job market.

Glossary

Relationship marketing (Wikipedia)

This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages)

This article possibly contains original research. Please improve it by verifying the claims made and adding inline citations. Statements consisting only of original research should be removed. (April 2019) (Learn how and when to remove this template message)

This article is written like a personal reflection, personal essay, or argumentative essay that states a Wikipedia editor's personal feelings or presents an original argument about a topic. Please help improve it by rewriting it in an encyclopedic style. (August 2019) (Learn how and when to remove this template message)

The neutrality of this article is disputed. Relevant discussion may be found on the talk page. Please do not remove this message until conditions to do so are met. (August 2019) (Learn how and when to remove this template message)

(Learn how and when to remove this template message)

Relationship marketing is a form of marketing developed from direct response marketing campaigns that emphasizes customer retention and satisfaction rather than sales transactions. It differentiates from other forms of marketing in that it recognises the long-term value of customer relationships and extends communication beyond intrusive advertising and sales promotional messages. With the growth of the Internet and mobile platforms, relationship marketing has continued to evolve as technology opens more collaborative and social communication channels such as tools for managing relationships with customers that go beyond demographics and customer service data collection. Relationship marketing extends to include inbound marketing, a combination of search optimization and strategic content, public relations, social media and application development.

« Back to Glossary Index