Question

A. Discuss what is meant by relationship marketing and discuss at least four of its benefits for Amazon.

B. Discuss the relationship between relationship marketing, customer lifetime value, satisfaction and loyalty and profit.

300 words

Answer 1

Solution-

A. Relationship Marketing-

Relationship Marketing is a form of marketing developed from direct response that increase the customer retention and satisfaction for the long term relation.

In shorts-

1. It creates long term relationship with its customers.

2. It Gives Loyality to its customer & earn long term profits.

Its benefits for amazon are as follows

1. Helps in Creating more and more customers.

2. Helps in survival and growth for long term.

3. helps in maximising sales.

4. helps in Maximising the Profit.

5. Helps in maintain for long term relationship.

B. Relationship Marketing basically means to create long term relationship with its customer, if there will be a long term connectivity with the customers then obvisiouly customer life time value will be created maens customer will depend on the company only if they will satisfy the comapany's product & its services, the comapny have to create loyality to its customer to make the customer satisfy with the services & the products of the company. and at last if the customer will connect for long time & satisfy with the companies's product & services the comapny can create more and more profit. hence all the temrs are depend on eah other infact the meaning given above shows that thare is a relatioinship between relationship marketing, customer life time value,satissfaction , loyality & profit of the comapny.