Moral science
Mention some aspects of relationship management.
Answers
Answer:
Relationship management is a strategy in which an organization maintains an ongoing level of engagement with its audience. This management can occur between a business and its customers (business to consumer [B2C]) or between a business and other businesses (business to business [B2B]). Relationship management aims to create a partnership between an organization and its patrons, instead of viewing the relationship as merely transactional.
Understanding Relationship Management
Relationship management involves strategies to build client support for a business and its offerings, and increase brand loyalty. Most often, relationship building occurs at the customer level, but it is valuable between businesses as well.
Customer Relationship Management (CRM)
B2C businesses rely on customer relationship management (CRM) tools to build a solid rapport with their customers. CRM involves a significant amount of data and sales analysis as it seeks to understand market trends, the economic landscape, and consumer tastes. CRM also can include marketing techniques and a post-sales support program.
Business Relationship Management (BRM)
B2B relationships with vendors, suppliers, distributors, and other associates can also benefit from relationship management. Business relationship management (BRM) promotes a positive and productive relationship between a company and its business partners.
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