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Case Study on Relationship Marketing
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Author(s): Bhawana Sharma (Jaipur National University, India)and Tulika Sood (Jaipur National University, India)
Copyright: 2014
Pages: 5
Source title:
Cases on Consumer-Centric Marketing Management
Source Author(s)/Editor(s): Vimi Jham (Institute of Management Technology, Dubai, UAE)and Sandeep Puri (Institute of Management Technology, Ghaziabad, India)
DOI: 10.4018/978-1-4666-4357-4.ch003
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Abstract
A paradigm shift has occurred in the concepts of marketing from the production concept to the societal concept. A prominent concept today is the customer concept, which aims to build loyalty and lifetime value by creating, maintaining, and enhancing relationships with the customer by addressing individual customer needs. Relationship marketing is a bifurcation from the customer concept, which seeks to earn and retain long-term preferences, business, and ultimately, a marketing network. In relationship marketing, both parties collaborate on identifying needs to fulfill. Immediate sales are not of prime concern in this model. Organizations should understand the fact of when–and how–to use relationship marketing. The five R’s of Relationship Marketing are Relationship, Realization, Response, Relevance, & Respect. This case study addresses relationship marketing focusing on a service industry (i.e. Insurance Industry). A Sales representative needs to bond well with all his clients in order to be able to meet their expectations as required. Therefore, an employee with good PR skills is sure to climb the ladder of success. The protagonist in the case study, Mr. Sahil Sharma, an Employee of AFRO-INDIA Insurance Ltd., guides and trains his entire team to build, maintain, and enhance their relationship with their clients. This will not only make the clients loyal to the organization, but also will also make them brand ambassadors through word of mouth.
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