Contemporary Issues in Marketing Essay

2923 Words 12 Pages
Outcome 1:
Describe and explain the importance of relationship marketing in contemporary business context.
Relationship Marketing:
Relationship marketing is not about having a "buddy-buddy" relationship with customers. Customers do not want that. Relationship Marketing uses the event-driven tactics of customer retention marketing, but treats marketing as a process over time rather than single unconnected events. By molding the marketing message and tactics to the LifeCycle of the customer, the Relationship Marketing approach achieves very high customer satisfaction and is highly profitable.
The relationship marketing process is usually defined as a series of stages, and there are many different names given to these stages,
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Provide goods and services that cannot be provided by the private sector.
Quality high quality services that do not cut corners. Ensure the essential goods and services are available for everyone equally;
Affordability services offered at prices that are cheaper than private sector or free at the point of use
Equity Available to anyone whatever their background, status, income, class, race, religion, etc.
Business process improvement
Shared Services enablement
Improved efficiency through fast, accurate and reliable information access
Assistance in meeting the commitment to open and accountable government
Improved corporate governance and compliance
Enhanced knowledge re-use for future projects
Not for profit Marketing
Marketing of ideas, values and institutions.
Increasing awareness that these organizations must build relationships with constituents and stakeholders.
Challenge of using new marketing techniques for not-for-profit initiatives.
Many organizations are realizing the importance of strategic marketing:
Performing arts

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