What are some benefits of relationship marketing for firms and customers?
Benefits for Customers:
• Receipt of greater value
Confidence benefits:
• trust, confidence in provider, reduced anxiety
Social benefits:
• familiarity, social support, personal relationships
Special treatment benefits:
• special deals, price breaks
Economic benefits:
• increased revenues, reduced marketing and administrative costs, regular revenue stream
Customer behavior benefits:
• strong word-of-mouth endorsements, customer voluntary performance, social benefits to other customers, mentors to other customers
Human resource management benefits:
• easier jobs for employees, social benefits for employees, employee retention