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Services and Relationship Marketing - Essay Example
Pages 7 (1757 words)
Service marketing is a subfield in marketing that entails the sales of fast moving consumer goods and services marketing. It typically refers to both the business to consumer and business to business services…
Relationship marketing primarily aims at building closer relationships with customers in order to overcome challenges such as obtaining global competitive advantage, dealing with rapid changes in technology and reducing time to market new products. Relationship marketing is vital in accordance to the pros and cons involved in the engagement and sustainability of exchange relationships. Through relationship marketing, there are more returns for companies or organizations that engage themselves with existing customers and increase the loyalty of the customers than it is to make an effort of attracting new customers. Hence, relationship marketing emphasize that exchange relationships are ongoing over the lifetime of the relationship. Relationship marketing has been used by competitive marketing as a functional way of enlarging business performance. According to Gilmore 2003, relationship marketing is characterized as the identification, establishment, maintenance, and enlargement, modification, and execution of relationships with customers, a situation that results to value for customers and profit for the organization by various relational exchanges that have both past and the future. ...
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