Exploring the importance of building strong customer relationships

Authors

DOI:

https://doi.org/10.15587/2706-5448.2024.299219

Keywords:

relationship marketing, customer satisfaction, loyalty programs, customer satisfaction index

Abstract

The object of the research is the role of creating customer satisfaction in retaining them and establishing long-term relationships with customers. Establishing market relations is accompanied by many challenges. Among them is increasing the competitiveness of companies to gain more success in the market. Without it, local business development is impossible. In this case, companies are greatly helped by realizing the role and importance of relationship marketing and using its approaches in practical activities. This has become one of the most relevant topics. Marketing is important for organizations to continue operating in business. Earnings are necessary to ensure the processes of production of goods. In the company, it is mainly marketing that is of decisive importance in generating revenues. It is important to know the key determinants that influence customer acquisition and subsequent retention.

The work aimed to find out and determine the importance and role of creating customer satisfaction in retaining them and establishing long-term relationships with customers. Various indicators are used to determine this. There are different views and opinions regarding the named issues. Secondary data from the websites of various organizations and companies are used in this study. Taking into account the results of this work, companies will be able to make a critical analysis of their work with customers in the market, identify their weaknesses in this regard, and then take real steps to improve the situation. The paper discusses some approaches to the calculation of customer satisfaction indices, some different views and approaches expressed in this direction.

A clear picture of the current situation in Georgia in the mentioned direction is created based on various reliable information sources. It is found that companies use only accumulation of points systems. In this article, the author discusses the conceptual aspects of relationship marketing, the opinions of various scientists and specialists are analyzed in this direction.

The article presents a number of conclusions and recommendations of the author in the direction of increasing the effectiveness of the use of relationship marketing.

Author Biography

Maia Seturi, Ivane Javakhishvili Tbilisi State University

PhD, Associate Professor

Department of Marketing

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Exploring the importance of building strong customer relationships

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Published

2024-02-29

How to Cite

Seturi, M. (2024). Exploring the importance of building strong customer relationships. Technology Audit and Production Reserves, 1(4(75), 33–37. https://doi.org/10.15587/2706-5448.2024.299219

Issue

Vol. 1 No. 4(75) (2024): Economics of enterprises. Macroeconomics

Section

Economics and Enterprise Management

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Copyright (c) 2024 Maia Seturi

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