| University | University of London (UOL) |
|---|---|
| Subject | Relationship Marketing |
- Describe the development of relationship marketing
- Introduction [Use materials from the task and the assessment content to form an introduction]
- Describe relationship marketing. To do this, search for two diverse sources of information, copy and paste using quotation marks, and acknowledge the sources. Give me your definition. Include all the key features of relationship marketing [excellent customer service, customer engagement -listening and involving customers, customer reward, business-wide approach, long-term/lifetime relationship, building customer profile and shopping habits, and information-led marketing]
- Explain the difference between transaction marketing and relationship marketing
- Competition
- Describe the market area that your chosen business operates in. Who are the major players? What is their market share? What is the level of competition in this market area? What are some of the indicators of competition in this industry? [ price match campaigns, equivalent products, venture into non-food, etc.]
- Examine how competition has increased the cost of acquiring customers [cost of customer acquisition can be measured in terms of advertisement cost, free gifts, sales promotion cost, etc.
- How has increased competition led to the development of relationship marketing? Competition offers customers a choice from around the globe. Describe the role of internet technology in unlimited offers. Increased choices make it difficult to obtain and keep customers.
- Research and add pictures of marketing activities that they are using to compete better, marketing activities that make them appear more attractive to customers.
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