Question

Rick's is a medium-sized construction company located in a busy metropolitan city. The company specializes in for-business construction, with most of its work coming from local government contracts. Owner and manager Rick hopes to revamp the company's marketing strategies to better cater to government partners. The company is about to enter into a cooperative agreement with a government agency to become the permanent maintenance partner for the agency's three buildings in the city.
Answer the following question based on the scenario described above.
Because Rick's Contracting specializes in for-business construction, repeat business is necessary for the company to continue to thrive. As a result, Rick believes that an ongoing relationship with business clients must always be maintained.
This is referred to as _____.

Answer 1

Answer:

marketing of relationship.

Explanation:

Marketing of relationship can be defined a marketing strategy whose main objective is customer loyalty.

This is a strategy that requires constant and precise efforts by an organization, so it is necessary to offer the customer special benefits and conditions in order to achieve customer satisfaction.

In a competitive market, maintaining a close relationship with the customer is essential for the success of a business, therefore the actions that will assist in this relationship building must be implemented as the organizational culture, shared in the internal and external environment. The focus on communication must be prioritized, as maintaining an open and direct communication with the customer, creates a relationship of transparency and honesty, the customer has to feel comfortable to compliment or complain about their products or services, be treated with honesty and cordiality, to create a positive experience about the organization.

It is important that the company knows its customer, does research and seeks to meet their demands and even exceed their expectations, to create the best service and the best experience for its potential customer.

Answer 2

Answer:

Relationship marketing

Explanation:

Rick's is a medium size company plying its trade in the metropolitan city. As a company, it engages in business construction, with most of the works coming from local government contracts.

Now, Rick's has a strategic objective- improve its marketing to better cater for government partners. As a result, Rick's has entered into varying relationships in a bid to improve its relationship with respective clients. It also believes that to sustain the repeat in for-business the firm is known for, the firm must latch and increasingly boost its relationship with varying clients.

The concept that aptly captures the scenario so described above is known as Relationship Marketing.

Relationship marketing can be defined as the procedures aimed at deepening customers interest, eliciting their loyalty and building a long term sustainable relationship. To achieve this, a firm ensure it is flexible, apt and swift with information dissemination on its service. A robust feedback system and an anticipation of customers interest and questions is a critical measure to ensuring the firm maintain its good standing with the clients.