The Profitability of Relationship Marketing

Abstract

Nowadays, both the sharp increase in household debt and the dramatic increase in cost of living ultimately play an important role in the Thai Economy. In consequence, Thai consumer persistently has to struggle for a living on a daily basis, while some business firms in Thailand inevitably encounter the dilemma of whether to achieve their sale targets or allow their revenue to dip during this highly competitive period of time. However, the relationship marketing strategy is apparently one of the most interesting  marketing tools for establishing a long-term relationship between businesses and customers, together with suppliers  alliances, mass media or even non-profit organizations. Therefore this sort of strategy is normally linked in part to the creation of their maximum profitability and productivity in the long run. Furthermore, this kind of marketing instrument is frequently used as the application of an in-depth data management profile in relation to customers’ requirements, tastes, values and even their online-shopping behaviors.  This will be beneficial to the development and improvement of products and services that fulfil customers’ expectation. All in all, the more satisfaction consumers obtain, the more brand loyalty they will show. This implies the long-term profitability of a company.