Relationship Management

The term relationship management is very broad. It is often used in relation to the emotional bond between a customer and the company. In this context, one also speaks of customer relationship management (CRM), which is particularly required in sales and service. In addition, relationship management is also oriented to the different business areas or departments in the company, such as from the salesperson to the buyer or from the buyer to the supplier of the company. The network extends across the entire company as well as the entire supply chain and value chain. Even competitors, government agencies or research institutions can fall under relationship management.

 

The main goal of strategic relationship management is to develop sympathy between the two parties, to demonstrate trustworthiness as well as corporate competence. Furthermore, one would like to build up an extensive network of people, with the help of which problems can be solved easier and faster. With the end customers one would like to reach for example that they become competition-blind and bind themselves durably to the enterprise. Price sensitivity is to be reduced here by means of the relationship to each other.