50504888
Tyrell Farrell
Unit 11
Task 2C
In this report, I will give an evaluation on the contribution of relationship marketing and the
effectiveness it holds within my selected organisation – which in this case will be Richer Sounds.
I believe that it is firstly very important to understand how the strategy of relationship marketing is
contributing to the business and to establish why it is important. Relationship marketing is vitally
important to Richer Sounds as it is the long-term bond between customer and business. In direct
relation to Richer Sounds; it will make the business more profitable.
Richer Sounds value their customers and aim to build bonds which will ensure they have frequent
and regular customers. In the ‘Richer Way’ Handbook, it is made very clear that their success is
largely from their relationship between customers and staff – hence the reasoning they emphasise
that staff must be treated with respect and therefore they refer to their staff as partners. This is
establishing that relationship marketing is key to their business.
In achieving great customer service and good relationships with their customers, the business are
able to make more profit and are able to open more stores and hire more staff which ultimately
creates more success for the business.
For smaller businesses such as Richer Sounds, building relations with customers and building
customer loyalty is so vitally important. Not only is it vitally important because it keeps a consistent
amount of sales and therefore profit being generated; but it also attracts new customers. This
promotion comes from the foundation of word of mouth and this is only possible once a strong
relationship between customer and business has been formed – this has been successful and has
resulted in Richer Sounds attracting new customers. The word of mouth is also very effective for the
business in more ways than just attracting new customers; it also brings excellent opportunities for
the business without the need of paid promotion such as advertisement. Example being; they could
be nominated for various awards on social media such as the best customer service, or they may be
ranked compared to others and have reviews posted that benefit them and do largescale promotion.
The main reason relationship marketing is such an effective marketing function within a business like
Richer Sounds is because it links with the strong loyalty between customer and business. It in fact
works to effectively isolate competitors from Richer Sounds customers, customers are so loyal to the
business that they do not wish to shop at a different business and as a result Richer Sounds can focus
on the their customer needs without the fear of losing them to competitors.
Tyrell Farrell
Unit 11
Task 2C
In this report, I will give an evaluation on the contribution of relationship marketing and the
effectiveness it holds within my selected organisation – which in this case will be Richer Sounds.
I believe that it is firstly very important to understand how the strategy of relationship marketing is
contributing to the business and to establish why it is important. Relationship marketing is vitally
important to Richer Sounds as it is the long-term bond between customer and business. In direct
relation to Richer Sounds; it will make the business more profitable.
Richer Sounds value their customers and aim to build bonds which will ensure they have frequent
and regular customers. In the ‘Richer Way’ Handbook, it is made very clear that their success is
largely from their relationship between customers and staff – hence the reasoning they emphasise
that staff must be treated with respect and therefore they refer to their staff as partners. This is
establishing that relationship marketing is key to their business.
In achieving great customer service and good relationships with their customers, the business are
able to make more profit and are able to open more stores and hire more staff which ultimately
creates more success for the business.
For smaller businesses such as Richer Sounds, building relations with customers and building
customer loyalty is so vitally important. Not only is it vitally important because it keeps a consistent
amount of sales and therefore profit being generated; but it also attracts new customers. This
promotion comes from the foundation of word of mouth and this is only possible once a strong
relationship between customer and business has been formed – this has been successful and has
resulted in Richer Sounds attracting new customers. The word of mouth is also very effective for the
business in more ways than just attracting new customers; it also brings excellent opportunities for
the business without the need of paid promotion such as advertisement. Example being; they could
be nominated for various awards on social media such as the best customer service, or they may be
ranked compared to others and have reviews posted that benefit them and do largescale promotion.
The main reason relationship marketing is such an effective marketing function within a business like
Richer Sounds is because it links with the strong loyalty between customer and business. It in fact
works to effectively isolate competitors from Richer Sounds customers, customers are so loyal to the
business that they do not wish to shop at a different business and as a result Richer Sounds can focus
on the their customer needs without the fear of losing them to competitors.
