Question

In B2B relаtionship mаrketing, an orgаnization seеk to estаblish and bеnefit from a long-tеrm profitаble relаtionship with the customеrs; but in what way is relаtionship markеting of vаlue to the customers thеmselves? Discuss

(250 words minimum) and please avoid using Plagiarism, thank you

Answer 1

In a B2B market, the seller does more of personal selling and requires building a long-term relationship with the business to whom the products/services are sold. The decision making for purchase is longer due to which the seller needs to interact with the buyer on a continuous basis by detailing out the product features, clarifying on any questions etc. Selling is more organized with concentration of a smaller lead pool for a B2B market.

Relationship Marketing is one of the facets of Customer Relationship Management (CRM).

There are five levels of relationship marketing based on the engagement/relationship level between the customer and the seller in the order – Basic Marketing, Reactive Marketing, Accountable Marketing, Proactive Marketing and Partnership Marketing.

Below is how the relationship marketing is of value to the customer –

1. It creates a long-term relationship with the supplier(s) thus helping the firm negotiating better deals/lower prices based on the quantity purchase.

2. It helps the firm getting recommendations from suppliers regarding products and their specifications/features.

3. It helps in receiving better/higher quality products on priority.

4. It helps in increasing service level and receiving orders within a short notice on urgent orders and during high demand periods.

5. It helps the firm get more customized products/services as per the requirement.

6. Out of the five levels of relationship marketing, the fifth level is called Partnership Marketing which has the highest level of engagement and involves regular interactions between customer and seller, where the product design, production and marketing is highly customized.