Emotional bond with consumers

Companies can't forget the relationship factor in marketing

Relationship marketing isn’t anything new. The term coined in 1983 by Leonard Berry essentially means that businesses should focus more on serving existing customers. Berry’s basic premise was that companies would be foolish if they thought marketing was only about winning new customers, rarely about retaining them. Companies all over the world have been practising relationship marketing with varying degrees of success ever since, but marketing guru Jagdish Sheth says the concept needs a reboot.

Sheth should know, going by his scholarly contributions in consumer behaviour, relationship marketing, competitive strategy, and geopolitical analysis. The professor who is currently on a short