Bundle: Contemporary Marketing, Loose-Leaf Version, 17th + LMS Integrated MindTapV2.0 Contemporary Marketing, 1 term (6 months) Printed Access Card
17th Edition
ISBN: 9781337493819
Author: BOONE, Louis E., Kurtz, David L.
Publisher: Cengage Learning
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Question
Chapter 11, Problem 1ALR
Summary Introduction
To discuss: The benefits of relationship marketing and the way database technology helps the firms to build the relationship with customers.
Expert Solution & Answer
Explanation of Solution
The benefits of relationship marketing:
Relationship marketing helps the firm to maintain and develop the cost effective relationship and longer term relationship with the suppliers, individual customers, employees to increase the sales and for mutual benefits.
Database technology:
Database technology helps the firms to analyze the details and data about the customers for the purpose of advertisement and promotions.
It makes the firm to know more about the customers through these data to build a relationship among them.
It helps to improve and increase the customer relationship, customer retention, referral rates and many others.
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Chapter 11 Solutions
Bundle: Contemporary Marketing, Loose-Leaf Version, 17th + LMS Integrated MindTapV2.0 Contemporary Marketing, 1 term (6 months) Printed Access Card
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