In CRM the alphabet R means relationship. But there is always an ambiguity to understand the actual meaning of this relationship. This relationship between supplier and customer is not a personal relationship or a one-time transaction relationship; for example buying a refrigerator from a consumers outlet would not be called as a relationship.
Relationship between any two parties is actually the interaction or transaction done between the two over-times or consists of a continuous series of synergistic episode of interaction many a times. This relationship only exists when the two parties diverge from a state of autonomy to mutual or interdependent. Occasionally having a cup of tea from a café does not mean that there is a relationship. If the customer returns to the café and orders the same tea again because he likes the environment and taste or the method of making tea, more looks like a relationship.
Relationship with customers can change from time to time because it is evolved under distinguished situations. Following are the stages from where the relationship with customers can evolve-
Relationship can come to an end due to many reasons like - customer is not satisfied with the services of supplier or customer diverges to other better brands and products. Suppliers can also prefer to break relationships due to customer failing to be a part to increase sales volume or when the suppliers are entangled with fraud cases.
Broadly there can be two distinguished attributes of a developed relationship between supplier and customer:
Relationship is always mutual or reciprocal so it is important for both supplier and customers to stick to common guideline to attain better relationship among each other. There is lot of involvement of cost, efforts and time in striving developed relationships between the two parties but the outcome is always inevitable.
Management Study Guide (MSG) is an educational portal launched with the vision of providing students and corporate workforces worldwide with access to rich, easy to understand, frequently updated instruction on many management related topics.
MSG team comprises experienced faculty and professionals who develop the content for the portal. We collectively refer to our team as - MSG Experts. To Know more, click on About Us.
A Smarter Way to Study....short presentations, real results