Marketing on Consumer Loyalty-Free-Samples for Students-Myassignmnt

Question: Discuss about the Impact of relationship marketing on consumer loyalty. Answer: Impact of relationship marketing on consumer loyalty It is seen that with more dominance of LPG (Liberalization, Privatization, and Globalization), marketing has more competition than before. The witness is made on the basis of customer-driven marketing, as it is seen that to retain customers many offers are given so that demand can be enhanced effectively. In this paper, the discussion will be made on relationship marketing by taking into consideration the Indian automobile industry. To grow in the market situation it is seen that the sustainable growth in the market helps to attract more customers but also need customer loyalty. The challenge in the recent scenario is not to achieve first position but to ensure the loyalty of the customers. In this article, the research methodology is taken into consideration in which the study undertakes an exploratory research and casual research. The organizations that are successful has common thing and that is the loyalty of the clients. The companies offer trust and commitment to the consumers so that good position can be achieved in the market. Long-term consumers also offer free advertising by being positive about the company for years (Alrubaiee and Al-Nazer, 2010). The automobile industry is one of the key players of the Indian Economy as it plays an important role to develop transportation sector to develop quicker by making an important role of employment chances. The automobile industry develops relations with the vendors so that the quality can be maintained and also the cost of inventory can be reduced (Gaurav, 2016). To understand customers, the automobile organization takes into consideration relationship marketing strategy so that proper information can be evaluated of the products and services in the automobile industry. The proper relationship marketing can be maintained by considering the customer loyalty (Fallon, 2012). Relationship Marketing is the customer base of the company stability which is the major component of the business asset. It is evaluated that transaction marketing has moved from relationship marketing. Relationship marketing does not take into consideration interactions, relationships, and networks. Transaction marketing approach is based on the idea of interchange and on the other hand if relationship marketing is seen it is related to identify and establish the relations with the customers and other stakeholders so that overall activities of the organization can be achieved. Relationship marketing assists the organization to evaluate the consumers. It assists the company to enhance the market share and profitability so that the cost can be minimized. It is seen that the cost to attract the customers is more than six times so loyal customers can be served (Kiyani, Niazi, Rizvi, and Khan, 2012). Marketers are taking into consideration relationship marketing so that the loyal customers can be retained. The loyalty of the customers is central as it will last long to create effective relationship marketing strategies to improve the benefits of the customers. Customer loyalty helps to enhance the experience so that the sales can be enhanced. The customers who are loyal are given a premium price so that the profits of the organization can be improved. The service organization tries to retain customers so that the orders can be repeated. Customer loyalty is the strength that creates a proper relation between the attitudes of the individual. According to Wong and Sohal, the loyalty of the customer is when the purchase is done again and again by the customer and positive attitude is there towards the company. Explanatory research helps to gain proper research area so that customer loyalty can be maintained. Casual design helps to evaluate the impact of relationship marketing on the loyalty of the clients. The research is conducted to collect proper information data. The primary data is collected from the respondents and there are many other articles from information are taken (Rai and Srivastava, 2013). Scale development is the study that is relied on the questionnaire. So, the measurement that is done is that in relation with the transactional marketing, relationship marketing focuses on increasing profitability of the company by giving service to the customers and maintaining a good relationship. Relationship marketing is known as an exit from the traditional transactions behavior so that the customers as partners can be developed (Baglin, 2014). The customer loyalty measurement scale is related to Customer loyalty that is measured through systematic sampling that was described as repeat purchasing frequency and also it identifies the questionnaire. The scale of reliability can be estimated by the overall average of coefficient results. In the research study, the scale of measurement is considered and also suggestions are given by considering the experts. The sampling method that is considered is probability sampling. The method is employed to search the sample of the present study. The first unit sample is considered so that pre-determined pattern can be accessed. To develop sample frame the two-wheelers owners and four-wheelers owners based on Hyderabad. The two-wheeler owner purchased their vehicle at the time of FY 2011 2012. The details in the sample frame are that there is total 3250 vehicle and the number of two-wheeler owner was 2000 and number of four wheeler owner is 1250. It is decided to collect the information o f 650 respondents. The survey was taken place in Hyderabad so that people can be attracted. The sample Size in the range of 20 to 5000 is recommended for conducting quantitative studies. The outcome that is seen is that 100= Poor, 200= Fair, 300= Good, and 500= very good. Data collection is done through a questionnaire. It is seen that the responses are taken from the respondents. The respondents given advised to give the response to many statements. In the first step of data analysis, explanatory factor analysis is conducted to consider correlation coefficient matrix to identify relationship marketing. In the second step, there are multiple regressions that were employed to connect between the relation of marketing and consumer loyalty. In the explanatory analysis, the perfect factor of relationship marketing is identified with the help of software package. There are 4 factors with the name of customer centricity, commitment, trust and communication and reliability is taken out by conducting exploratory factor analysis (Emerson, 2017). By conducting factor analysis it is seen that customer centricity is the essential factor of relationship marketing. 10 out 31 items are related to the aspect of customer centricity dimension of relationship marketing. Customer centricity deals with the greater importance to create good relationship marketing (Gaurav Shainesh, 2017). Customer centricity is not considered as aspirational but it is essential and it advocates designing and delivering the products and services. Commitment is also the factor that has the connection with communication and it shows the fulfillment of the requirements of the customers. Trust is also the dimension of reliability that deals with the customer. Trust is related to the factor of the willingness of the party based on the level of expectations that will help to control the other party (Bedarkar, Pandita, Agarwal Saini, 2016). Communication is also the factor that is important to create relationship effectively and it is extracted from an exploratory analysis. It is seen that 5 out of 31 items that are related to relationship marketing consider this factor so that timely and trustworthy information can be maintained with the customers. Multiple Regression analysis is a technique that is used to evaluate the relationship between the dependent variable. This technique is essential to quantify the overall impact on various influences. In this study, it is seen that it is employed so that proper evaluation can be made to analyze the impact of relationship marketing on customer loyalty. This study gives focus on the loyalty of the customers so that independent variable and factor score can be created. So, by analyzing the article it is concluded that the objective of the study is related to two-fold like to search the relationship marketing and also to evaluate the relationship marketing so that customer loyalty can be considered. With the Exploratory factor analysis, there are factors like customer centricity, commitment, trust and communication that are included. It is also seen that the automobile industry elucidates customer centricity to deal with the customers and also to retain the customers. The management of automobile industry focuses on designing strategies so that customer loyalty can be created and also close relationship that can be made. References Alrubaiee, L., Al-Nazer, N. (2010). Investigate the impact of relationship marketing orientation on customer loyalty: The customer's perspective.International Journal of Marketing Studies,2(1), 155. Baglin, J. (2014). 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