1-4 - 1-2e Relationship Marketing Orientation Developing...

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1-2e Relationship Marketing Orientation Developing sustainable relationship with customer, means that marketing can no longer look for a one-off sales marketing has to focus on taking the steps to truly engage with the customer Two essential customer-based strategies Customer satisfaction Is the customer’s evaluation of a good or service and weather it has met the customer’s needs and expectations. Failure to meet a customer’s needs and expectations results in the customer’s dissatisfaction. One study showed that reducing customer attrition( loss of clients or customers) by just 5 to 10 percent could increase annual profits by as much as 75 percent. A 2 percent increase in customer retention(returning customers) has the same effect on profits as cutting costs by 10 percent. When firms have high customer satisfaction, they tend to do things differently from their competitors. Their employees throughout the
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  • Fall '19
  • NoProfessor
  • Marketing, Customer relationship management

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Christopher Reinemann
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