- Relationship marketing is heavily dependent on Customer Relationship Management (CRM).
- Relationship marketing involves the development of a marketing strategy which has the essence of relationship.
- It includes the business interaction with customers in the entire firm to have the better understanding of their current and future requirements and the methods by which these can be met.
- It serves as the means of accurate and reliable business data related to the present and prospective customers.
- Cross selling, up selling and repetitive selling are the results of successful relationship marketing.
- Mainly related with personal relations, communications and managing the vital conditions to gain the confidence of the customers.
- Relationship manager coordinates different activities.
- Focuses on developing long term, profitable relationship with the customers.
- It mainly deals with maintaining relationships with both partners and customers.
- It is largely focused towards the firm’s marketing operations and towards the Customers.