| Can we imagine a place in the world today without a | | | | activities. The bottom-line is your capability to build, |
| marketing activity. It looks remote. When we all move | | | | develop and maintain a relationship that is long-standing |
| from one place to the other, we need an interactive or | | | | and mutually beneficial. Because, the chances of |
| a Communicative Response System (CRS) to | | | | succeeding service marketing or any type of |
| facilitate a marketing activity and enable the market to | | | | marketing for that matter, depends firstly on the extent |
| respond. When this Communicative Response System | | | | of proximity you could establish with the company. |
| (CRS) eventually reaches a market, there are buyers | | | | Service marketing is gaining prominence in all sectors. |
| and sellers waiting to respond. | | | | BPOs, Call Centers are making huge money in |
| Marketing is not today what it used to be years ago. It | | | | contrast to the product marketing. The top 5 factors |
| started as a barter and has reached a currency world | | | | influencing relationship building exercise to succeed in |
| with a variety of geographical segments and | | | | service marketing are |
| demographics. Marketing in simple terms is a distribution | | | | 1. Be customer-centric. Put the customer first and for a |
| of products and services of a company in order to | | | | moment put yourself in the customers' place. |
| realize a value in form or in kind. While it is true, | | | | 2. Identify and understand what customer wants in |
| marketing today encompasses a wide range of | | | | terms of products and services and the value that you |
| activities including relationship building. | | | | could create to your customer by offering your |
| Relationship building is key to the success of any | | | | services. |
| service organization. A marketing activity does not end | | | | 3. Consistent follow-up with the customer to |
| with a buy or a sale. Today, it requires establishing and | | | | demonstrate the extent of interest and seriousness |
| building capabilities to create retention. From the | | | | and also the capabilities that you have developed over |
| company's point of view, identifying and understanding | | | | a period of time, for instance, your client base. |
| the requirements of the customer in clear terms is the | | | | 4. Respond in time to the requirements of your |
| first step in the process of starting a relationship | | | | customer and focus on feedback evaluation to check |
| building exercise. | | | | and ensure you did not deviate anything from the |
| Private banking sector, for instance, in India has | | | | specifications. |
| undergone a tremendous change in the last 5-6 years. | | | | 5. Share your success with your friends and |
| From being a lending institution, private banking has | | | | colleagues to create in a way your brand image and |
| spread its wings to include services such as insurance, | | | | stay on to receive feedback and suggestions from |
| risk-management, asset-management as the core | | | | them. |