When it comes to consumer goods marketing, do customers want or need a relationship with suppliers other than ensuring smooth transactions? The emergence of powerful brands has changed this. Many customers now want to develop a relationship in their purchasing, and what they seek and value is a relationship with the brand rather than the marketer.
Brands are big business and are estimated to drive nearly two-thirds of purchases in consumer markets. Coca-Cola, Sony, McDonald’s and Microsoft are global brands that transcend national boundaries. What is the link between brands and relationship marketing? The most successful brands over time develop a relationship with customers.
Initially a customer may purchase a brand simply for novelty, perhaps to try something new or because of the recommendation of a friend. If the brand delivers, i.e. the customer is satisfied, then it increases the chance of the customer purchasing this brand again. Over time, provided the brand continues to deliver, the customer will become brand loyal. From a mere liking of, or satisfaction with, the brand, the customer becomes committed, seldom considering purchasing another brand and eventually possibly becoming an advocate for the brand.
Brands make the process of purchasing easier and less stressful. They reassure and build trust. Some confer status on purchasers and become ‘badges’ that send signals out about the customer and what they feel about themselves. Reast15 suggests that the marketer can build on a customer’s relationship with a brand to develop brand extensions. In the case of retail brands, Binniger16 shows how strong retail brands are associated with store loyalty, providing a powerful basis for retailers to develop relationships with customers in consumer markets.
Marketing Management Related Tutorials
|Consumer Behaviour Tutorial||Marketing Strategy Tutorial|
|Marketing Research Tutorial||Principles of service marketing management Tutorial|
|Advertising Management Tutorial|
Marketing Management Related Interview Questions
|Consumer Behaviour Interview Questions||Marketing Strategy Interview Questions|
|Marketing Concepts Interview Questions||Marketing Research Interview Questions|
|Principles of service marketing management Interview Questions||Advertising Management Interview Questions|
|Brand Management Interview Questions||Marketing Interview Questions|
Marketing Management Related Practice Tests
|Consumer Behaviour Practice Tests||Marketing Strategy Practice Tests|
|Marketing Concepts Practice Tests||Marketing Research Practice Tests|
|Principles of service marketing management Practice Tests||Advertising Management Practice Tests|
|Brand Management Practice Tests|
Marketing Management Tutorial
Development Of A Strategic Approach To Marketing: Its Culture; Internal Macro- And External Micro-environmental Issues
Markets And Customers: Consumer And Organizational Buyer Behaviour And Marketing Strategy
Markets And Customers: Market Boundaries; Target Marketing
Product And Innovation Strategies
Channels Of Distribution And Logistics
Customer Care And Relationship Marketing
Marketing Information Systems And Research
Analysing The Environment: (opportunities And Threats) And Appraising Resources (strengths And Weaknesses)
Evaluating And Controlling Strategic Marketing
Strategic Marketing Planning Tools
Services Marketing And Not-for-profit Marketing
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