Definition: [riˈleɪʃənˌʃɪp ˈmɑrkətɪŋ] is building long-term mutually beneficial relations with key partners interacting in the market such as buyers, suppliers, distributors. This type of marketing is strategically aimed at building long-term relationships, in order to keep consumers and partners, which costs much less than acquiring them. Long-term relationships are the decisive factor of competitiveness.
The goal of relationship marketing is the establishment of long personal privileged relationships. A high level of service and reasonable prices are used as a "building material". The marketing of relations is aimed at establishing close economic, technical and social ties with partners, which allow to increase the indicators of commercial activity in the market, allows to reduce transaction costs and save the resources of the enterprise.
Relationship marketing In a Sentence:
- Marketing of relationships seek to form a unique asset of the company, called the marketing system of interaction.
- The marketing of relations was put in a separate direction of marketing science in the 70-80s of the last century.
Synonyms and related words: trust relationships, loyalty formation
