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Consumer Behavior C550002 Term Paper Relationship Marketing and its impact on Consumer Behavior Outline Marketing Relationship and its Impact on Consumer Behavior I Definition Explanation BackgroundPage 2 II Current StatusPage 6 III Questionnaire DevelopmentPage 9 IV Trends Future RecommendationsPage 12 V Executive SummaryPage 14 VI BibliographyPage 16 VII AnnexesPage 17 I Definition Explanations Background Todays customers face a growing range of choices in the products and services they can buy They base their choices on their perception of quality value and service Each consumer has a specific behavior But buying habits are sometimes difficult to understand Therefore companies always want to gain some insight about consumer behavior and habits in order to better control this behavior Having impact on consumer behavior means being able to change consumers perception of the product or service in order to build a relation between the company and its clients The term used by marketers in order to define this relation building process is known as relationship marketing Relationship marketing involves creating maintaining and enhancing strong and valued relationship with those customers This bond encourages consumers to do their market choices voluntarily by engaging in an ongoing relationship with a marketer of a specific product service or brand or a specific firm It is a way marketers attempt to develop brand loyalty Firms develop loyal clientele by forming and solidifying long-term customer alliances based on trust Activities to build and solidify lasting trust relationships diligently attending to consumers needs providing high-quality customer input for purposes of product design and maintaining open and effective communication Relationship marketing is about having an indirect conversation with the customer through analyzing their behavior over time Relationship marketing uses the event-driven tactics of customer retention marketing but treats marketing as a process over time rather than single
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