Podcast
Questions and Answers
What is the primary goal of relationship marketing?
What is the primary goal of relationship marketing?
- To create a one-time sales exchange
- To focus on customer dissatisfaction
- To build value-laden relationships and marketing networks (correct)
- To increase individual transactions
What is the benefit of trust and loyalty in business?
What is the benefit of trust and loyalty in business?
- It reduces customer loyalty
- It leads to negative word of mouth
- It increases customer complaints
- It helps prevent customers from turning to competitors (correct)
What does the salesperson do in a relationship marketing strategy?
What does the salesperson do in a relationship marketing strategy?
- Only provides customer service after the sale
- Does not solicit product improvement suggestions
- Sells the product and encourages the customer to call whenever he or she has any questions or problems (correct)
- Sells the product and ignores the customer
What is the purpose of the salesperson's phone call after the sale?
What is the purpose of the salesperson's phone call after the sale?
What is the outcome of relationship marketing?
What is the outcome of relationship marketing?
What is the definition of relationship marketing?
What is the definition of relationship marketing?
What is the primary objective of relationship marketing?
What is the primary objective of relationship marketing?
What is the measure of success in relationship marketing?
What is the measure of success in relationship marketing?
What is the characteristic of relationship marketing compared to traditional marketing?
What is the characteristic of relationship marketing compared to traditional marketing?
What is the role of a company's departments in relationship marketing?
What is the role of a company's departments in relationship marketing?
What is the outcome of building relationships at multiple levels in relationship marketing?
What is the outcome of building relationships at multiple levels in relationship marketing?
What is the level of relationship where the salesperson phones the customer to check whether the product is meeting the customer's expectations?
What is the level of relationship where the salesperson phones the customer to check whether the product is meeting the customer's expectations?
What is the primary goal of soliciting product improvement suggestions from customers?
What is the primary goal of soliciting product improvement suggestions from customers?
Which of the following is an example of a proactive marketing strategy?
Which of the following is an example of a proactive marketing strategy?
What is the primary objective of relationship marketing?
What is the primary objective of relationship marketing?
Which of the following is a key characteristic of relationship marketing?
Which of the following is a key characteristic of relationship marketing?
What is the primary benefit of partnering with customers to deliver better value?
What is the primary benefit of partnering with customers to deliver better value?
According to Serrano, which type of customers is the focus of Relationship Marketing?
According to Serrano, which type of customers is the focus of Relationship Marketing?
Study Notes
Definition of Relationship Marketing
- Relationship marketing is an interaction with current customers and potential ones.
- It involves creating, maintaining, and enhancing strong relationships with customers and other stakeholders.
Importance of Relationship Marketing
- Trust and loyalty go hand in hand, and it is super beneficial for all business.
- It helps prevent customers from turning to competitors.
Levels of Relationships
Basic
- The company salesperson sells the product but does not follow up in any way.
Reactive
- The salesperson sells the product and encourages the customer to call whenever they have any questions or problems.
Accountable
- The salesperson phones the customer a short time after the sale to check whether the product is meeting the customer’s expectations.
- The salesperson solicits from the customer any product improvement suggestions and any specific disappointments.
Proactive
- The salesperson or others in the company phone the customer from time to time with suggestions about improved product use or helpful new products.
Partnership
- The company works continuously with the customer and with other customers to discover ways to deliver better value.
Goals of Relationship Marketing
- To deliver long-term value to customers.
- To achieve long-term customer satisfaction.
Characteristics of Relationship Marketing
- Oriented more towards the long term.
- Requires all the company’s departments to work together with marketing as a team to serve the customer.
- Involves building relationships at many levels – economic, social, technical, and legal.
- Results in high customer loyalty.
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Description
Test your understanding of relationship marketing, a crucial aspect of building strong customer relationships. Learn how salespeople interact with customers to ensure their expectations are met and gather feedback for product improvement.
