Relationship marketing

Marketing aimed at creating strong, lasting relationships with a core group of customers by making them feel good about how the company does business with them and by giving them some kind of personal connection to the business. The emphasis here is on developing long-term bonds with customers by making them feel good about how the company interacts (or does business) with them and by giving them some kind of personal connection to the business. It is to a firm’s advantage to develop long-term relationship with the existing customers because it is easier and less expensive to make an additional sale to an existing customer than to make a new sale to a new customer.

Relationship buyers

A type of business buyers who regard the product as moderately important and are knowledgeable about the competitive offerings. They prefer some discount and a modest amount of services and would go for a supplier as long as the price is not far out of line.