Answer to Question #188521 in Marketing for Mazhar Naseer

Question #188521

You have just been hired by Nestle Water Multinational Company to administer a relationship marketing program for the company. The company manufactures and distributes a purity-guaranteed, non-carbonated, bottled drinking water product to grocery and

convenience stores in the Punjab Pakistan. The company’s desire is to build strong economic and social ties to customers by promising and consistently delivering high-quality products, good service, and fair prices. In order to do this, Nestle wants you to build a marketing network for them. Write down your ideas on what a marketing network is, how it might relate to the concept of relationship marketing, and designate the components of a what you perceive to be a marketing network for Nestle Water? 


1
Expert's answer
2021-05-07T12:05:01-0400

The idea behind relationship marketing is to create customer loyalty. You want to develop engagement and long-term relationships with your current customers.

It’s a big-picture marketing idea that focuses on customer acquisition and retention.

Customer acquisition and retention is the main driving force for business survival. The difference between the two is that; customer acquisition requires the company to spend while customer retention may not need much spending/it is less expensive.

To keep customers from going to other businesses and keep coming back to you requires the use of relationship marketing. You make sure that you are in a good relationship with your customers so that they may beome free advertising agents of your business.

You may do this by personalizing customer experience to sitmulate an emotional response in each one of them. Thus the customer would then see a personal value of your products.


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