Relationship marketing scheme

Relationship marketing can be depicted schematically as a cyclical process that involves several key steps. The first step is to understand customer needs and preferences by collecting and analyzing customer data. Once customer needs are understood, personalized communication is used to build trust and foster long-term relationships. High-quality products and services are then provided to meet customer needs and exceed their expectations. Finally, loyalty is developed by offering incentives and rewards that encourage customers to continue engaging with the business.