The term “Marketing” is very popular in the world of business. Every business requires marketing in order to let customers know about the offered products & the services. But is it a one-way relationship where the business only shows what they have to offer to the customer? There’s much more to marketing than just showcasing products.
In simpler terms, Marketing is managing profitable customer relationships. The keyword here is “relationship”. A profitable customer relationship maintains an exchange process where the customer is getting a service or a product and the business is getting profits in return. But how does marketing manage a profitable customer relationship?
Through Marketing, companies create value for customers by making them interested in the company’s product or service and build a strong customer relationship in order to gain loyalty and satisfaction in return. As a result, in the long run, these loyal customers will secure a stream of purchases.
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