What is Relationship Marketing and How to Use it to Connect with Your Customers

Johanesová Veronika () and Vaňová Jaromíra ()
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Johanesová Veronika: Slovak University of Technology in Bratislava, Faculty of Materials Science and Technology in Trnava, Institute of Industrial Engineering and Management, Ulica Jána Bottu 2781/25, 917 24Trnava, Slovak Republic
Vaňová Jaromíra: Slovak University of Technology in Bratislava, Faculty of Materials Science and Technology in Trnava, Institute of Industrial Engineering and Management, Ulica Jána Bottu 2781/25, 917 24Trnava, Slovak Republic

Research Papers Faculty of Materials Science and Technology Slovak University of Technology, 2020, vol. 28, issue 46, 29-35

Abstract: In fact, all demands and advances in customer satisfaction are the result of the technology and company developments. The companies that accept this and constantly create value for the customer provide a competitive advantage for themselves and for both sides the business potential. Getting new customers can be a very expensive process. This process includes considerable marketing costs such as advertising costs, sales promotion costs, PR, seller time costs etc. Therefore, every customer represents an investment for company. It has been proven that if a company treats its customers properly and they are loyal for a long time, they will bring more and more profits to the company every year. In this article, we focus on the relationship marketing that focuses on customer loyalty. Effective relationship marketing involves a variety of overlapping strategies and technologies that help foster a deeper, long-term relationship with current and prospective customers.

Keywords: Relationship marketing; customer relationship building; CRM (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:repfms:v:28:y:2020:i:46:p:29-35:n:4

DOI: 10.2478/rput-2020-0004

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