Relationship marketing is strategy that emphasizes customer retention, satisfaction, and lifetime customer value. Benefits include increased word-of-mouth, repeat business, and a willingness on the customers part to provide valuable feedback to the company.

What is relationship value?

The concept of relationship value is defined as that any relationship could create certain values for the two sides in the relationship as the process that both sides developed their trust and sought mutual benefits(Wilson & Jantrania, 1994).

What is the importance of customer relationships?

Positive customer relations help you connect with your customers on a much more personal level. When you connect with the target audience deeply, you are much more likely to understand their requirements, resolve their problems, and create a sense of mutual understanding with them.

What is respect in relationship?

Respect means that you accept somebody for who they are, even when theyre different from you or you dont agree with them. Respect in your relationships builds feelings of trust, safety, and wellbeing. Respect doesnt have to come naturally – it is something you learn.

What are the best values in a relationship?

Couples Who Share These 8 Core Values Have the Happiest, Healthiest RelationshipsCompanionship. Companionship is essential for being your partners friend. Respect. Empathy. Vulnerability. Accountability. Commitment. Trust. Communication.10 Jan 2020

What are the foundational values of relationship?

Ans: Trust or vishwas is the foundational value in relationship. “To be assured that each human being inherently wants oneself and the other to be happy and prosperous” is known as trust.