Importance of Relationship Marketing and its Application in the Service Sector

Abstract

The purpose of this study was to reveal the importance of Relationship marketing in the service sector. The paper discusses the nature and the need of relationship marketing, models of relationship marketing, ladder of relationship marketing, internal marketing concept, its application and the development of the application. The study also points out some steps for the success of relationship marketing. As the concept of relationship marketing has become important the focus has been shifted from transaction marketing to relationship marketing. The paper also includes relationship marketing application in the service sector. Paper concluded that the service sector should understand the application to overcome competition and keep their customers for longer periods winning the hearts of everyone. Key words: Relationship marketing, Internal Marketing and customer relationship management Sri Lankan Journal of Humanities and Social Sciences Vol.1(2) Oct 2009