Relationship marketing and its importance to customer retention

Peer Discussion

I agree with your assessment related to the important of relationship marketing to overall customer loyalty. In today’s market environment, customer loyalty is now a premium element to brands and businesses. With social media and the internet, consumers are constantly inundated with marketing material and to a certain extent, have gained the ability to ignore it. With relationship marketing, consumers have a much more intimate relationship with the brand which makes it difficult for competitors to erode. In addition, as you noted in your post, relationship marketing can be used to attract addition customers through word of mouth. Here, consumers essentially become brand ambassadors due to relationship marketing. This ultimately helps to reinforce the image of the brand while also providing a much more credible advocate for the brand (Kotler, 2016)

Peer Discussion 2

Hello, I agree with your post related to the merits of relationship marketing. For one, I agree with your notion that relationship marketing is longer term in nature. It requires a much more patient approach towards customers relationships which may not directly result in sales increases. In addition, I agree with your assertion that relationship marketing must be based on the principles and concepts of the organization in order for the marketing to be successful. Here, the company must be genuine and authentic in their approach