Economic Sciences Series Development of Long-term Relationships with Clients in Financial Sector Companies as a Source of Competitive Advantage

Abstract

Relationship marketing represents the concept which gives long term dimension to consumer’s role and importance, because it has in its focus loyalty development and long term cooperation and partnership relationships with key clients of financial organization. Relationship marketing is focused on: loyalty obtaining and “catching ” of clients for a longer period, client’s value, quality of provided service, engagement regarding fulfillment of client’s expectations, as well as concern of all employees toward the client. That is why relationship marketing represents a significant strategic leverage which can improve companies ’ competitive advantage. Key words: relationship marketing, long-term strategy of relationship with customers, competitive advantage financial organization JEL Classification: M31, M39, M2

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