What is relationship marketing, and why is it important in the twenty-first century business landscape? Provide 3 different industry examples of relationship marketing.
A) Relationship marketing focuses on building long-term relationships with customers to foster loyalty and repeat business. It is important in the modern business landscape because it emphasizes customer retention and satisfaction.
B) Relationship marketing examples:
Retail industry: Loyalty programs that offer rewards and discounts to repeat customers.
Automotive industry: Personalized customer service and follow-up after vehicle purchases.
Hospitality industry: Special promotions and offers for returning guests.
