Relationship Marketing Essay Example | Topics and Well Written Essays - 2750 words

Relationship Marketing - Essay Example Relationship Marketing: Relationship marketing is more about making a customer relationship and encouraging consumers to have a broader purchase rate and more satisfaction with their products. Typically relationship marketing is pitched towards long-term growth. Since the newspaper has not thought about relationship marketing the visitors make one buy and are never seen or heard from again. The newspaper continues to spend huge amounts of money in order to attract customers and has very little repeat business. Relationship marketing is all about the repeat business. Relationship marketing is a cost-effective method that finds to retain visitors (Goldglantz, 2007). The advantage of relationship marketing is that it aids retain the successes the newspaper has already attained. For example, a huge amount of visitors can be converted to a huge amount of return visitors. These return visitors can be examined for characteristics and traits. The disadvantage is that relationship marketing that seems inward (to current customers) does not attract new customers on a large scale. The advantage of traditional marketing is that it draws its net wide like a fisherman hoping to attain as many customers as possible. The broader the net the more fish and more markets we can dab into. The disadvantage of traditional marketing is that most organizations (newspapers) cannot simply keep paying high advertising costs to assert an expedient customer flow. Relationship and traditional marketing can be best applied when in conjunction. One exploits new markets and draws in first-time visitors while the other retains the customers as long as possible. The best the relationship, the best the sales results of the newspapers (Hunter & Perreault, 2007). Thus newspapers should conceive developing their marketing program so that it attains sales on the front end and the back end. Here we are considering two organizations. One organization use relationship approach with their customers and the other organization use traditional approach with their customers and here we are considering organization as a newspaper. First, describe the different activities of that newspaper which is using relationship approach with their customers. Relationship marketing: Definition: Relationship marketing is defined as the building of long-term, loyal, committed and economic relationships with potential and existing customers through communication and the provision of quality products and services. Relationship marketingis a type ofmarketingdeveloped from direct response marketing campaigns carried out in the 1970s and 1980s which emphasizes customer retention and satisfaction, rather than a dominant focus on point-of-sale proceedings. Relationship marketing is different from other forms of marketing in that it recognizes the long term value to the business firm of keeping customers, as opposed todirector "Intrusion" marketing, which focuses upon accomplishment of new clients by targeting majority statistics based upon prospective client lists. Development: Relationship mark