Proceedings of the 7th International Conference on Advanced Research in Management, Business and Finance, 2024
Year: 2024
DOI:
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Relationship Marketing: Impacts On Strategic Marketing and Business Performance
Aušra Pacevičiūtė
ABSTRACT:
This paper seeks to offer insights into how the development and oversight of relationship marketing can impact business performance. It emphasizes the importance for companies to boost their corporate performance by fostering connections between various stakeholder engagements and the relationship marketing framework. This research compares relationship marketing (RM) and corporate social responsibility (CSR) scholarship to identify future fields of research. The research investigating how the relationship marketing initiatives impacts different facets of business performance, such as financial results, customer contentment, and competitive edge. In turn, analysis of data shows that RM is positively and significantly associated with sales growth, customer retention, sustainable relationships between customers and suppliers, and overall business performance. The implications of these findings are discussed and the limitations of the study as well as future research directions are addressed. The study provides valuable guidance for industry professionals seeking to engage effectively in relationship marketing efforts. It underscores the significance of skillfully handling RM to maximize benefits for socially responsible business.
keywords: entrepreneurship, marketing performance, profitability, relationship marketing, social responsibility