Tactics, strategies and outcomes of relationship retailing in Bangladesh
Relationship marketing creates, maintains and enhances long term customer relationships and leads to winning customer loyalty and retains customers for long time. This paper focuses on different relationship marketing tactics used by the sample retailers’ and expl...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Society for Business and Social Sciences
2012
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/26455/ http://irep.iium.edu.my/26455/ http://irep.iium.edu.my/26455/1/Tactics%2C_Strategies_And_Outcomes_of_Relationship_Retailing_In_Bangladesh.pdf |
| Summary: | Relationship
marketing
creates,
maintains
and
enhances
long
term
customer
relationships
and
leads
to
winning
customer
loyalty
and
retains
customers
for
long
time.
This
paper
focuses
on
different
relationship
marketing
tactics
used
by
the
sample
retailers’
and
explores
customers’
views
regarding
these
tactics.
It
also
highlights
on
different
levels
of
relationship
marketing
strategies
namely
-‐
financial
bond,
social
bond
and
structural
bond.
The
paper
pinpoints
the
outcome
of
these
relational
bonds
and
tests
customers’
satisfaction
level
corresponding
to
these
relational
strategies.
Among
the
relationship
marketing
tactics,
preferential
treatment
and
warm
interpersonal
communication
are
found
to
be
widely
used
by
the
retailers
and
also
appreciated
positively
by
the
customers.
Tangible
reward
and
Mailing
brochures
are
treated
negatively
by
the
customers
while
Quantity
premium
and
Mailing
seasonal
greetings
card
are
found
not
to
be
practiced
widely
by
the
retailers.
The
study
reveals
that
structural
bond
is
the
most
effective
relational
strategies
and
social
bond
is
the
weakest
form
of
tie
for
establishing
relationship
between
customer
and
retailers.
The
study
ends
with
a
conclusive
finding
that
out
of
one
unit
satisfaction
of
the
customers,
relational
bonds
are
responsible
for
only
0.59
unit
of
satisfaction
and
interestingly
0.60
unit
of
satisfaction
can
be
generated
in
absence
of
all
these
three
bonds. |
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