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    Relationship Development Strategies

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    1921 Vishwanath Pakhare
    Relationship development strategies focus on achieving customer loyalty and repeat business through positive relationships built on communication and quality service. This moves away from one-time sales pitches. Effective strategies provide a core service that meets expectations while differentiating through additional relationship drivers. These include overcoming customer inertia to change brands through sustained efforts. They also consider switching costs like time investments that make changing providers challenging.

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    Relationship Development Strategies

    Uploaded by

    1921 Vishwanath Pakhare
    3K views2 pages
    Relationship development strategies focus on achieving customer loyalty and repeat business through positive relationships built on communication and quality service. This moves away from one-time sales pitches. Effective strategies provide a core service that meets expectations while differentiating through additional relationship drivers. These include overcoming customer inertia to change brands through sustained efforts. They also consider switching costs like time investments that make changing providers challenging.

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    Relationship development strategies focus on achieving customer loyalty and repeat business through positive relationships built on communication and quality service. This moves away from one-time sales pitches. Effective strategies provide a core service that meets expectations while differentiating through additional relationship drivers. These include overcoming customer inertia to change brands through sustained efforts. They also consider switching costs like time investments that make changing providers challenging.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    3K views2 pages

    Relationship Development Strategies

    Uploaded by

    1921 Vishwanath Pakhare
    Relationship development strategies focus on achieving customer loyalty and repeat business through positive relationships built on communication and quality service. This moves away from one-time sales pitches. Effective strategies provide a core service that meets expectations while differentiating through additional relationship drivers. These include overcoming customer inertia to change brands through sustained efforts. They also consider switching costs like time investments that make changing providers challenging.

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    Relationship Development Strategies

    What do you mean by Relationship Development Strategies?


    It is a marketing strategy that focuses on achieving customer loyalty and repeat business by developing strong,
    positive relationships with customers through communication and quality customer service, this type of marketing
    moves away from methodologies that focus on a one-time pitch and sell.
    Core service provision-
     A firm needs to begin the relationship development process by providing a good core service delivery that at a
    minimum, meets customer expectations.
     Intuit (An American business and financial software company) and USAA (A Banking products and insurance
    company), they both offer excellent quality and both use different relationship startegies to enhance their
    success.
    Relationship drivers
    o Switching barriers-
     Customer Inertia- The biggest challenge for new entrants is getting customers to change their behaviour ; to be prepared to leave their
    trusted brand and try a new one. The reason that both the energy and banking sectors have had their collars felt by the competition
    authorities of late is largely that new entrants have been reluctant to enter either sector, not because of market abuse but due to the levels
    of prevailing inertia – despite sustained multimillion-pound advertising campaigns and the arrival of price comparison websites.
     Switching Costs- Include investment of time, money or effort such as setup costs, search cost, learning costs and contractual costs- that
    make it challenging for the customer to move to another provider. Eg- Patient and Doctor

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