Exchange relationship means benefits are given with the expectation of receiving a comparable benefit in the near future or in return for a benefit already received. There are two types of exchange relationship that is communal and exchange relationship, the difference between the two is the rules that govern giving and receiving of benefits, in communal the basis of concern is the welfare of others without having to look at how much time the other person takes to repay, this more of an altruistic relationship, that neither of the partners does with the idea of repayment in mind, mostly this relationship occurs between friends and families .exchange relationship on the other hand is characterized by an immediate reciprocation of benefits, that is exchange of benefits are shared equally, also if someone was to something for you would be expected to do the same exact thing in return.
These
... relationships mainly exist between work mates and strangers.
Relationship marketing is focus on a customer’s long term and loyalty engagement rather than short term like customers individual sales, the main goal of relationship marketing is creating strong even emotional customer connections to a brand leading to ongoing businesses, free promotion of word of mouth and information that can generate leads from customers. In implementation of relationship marketing strategy, relationship marketing is used on improving customer interactions to enhance better brand loyalty. Relationship marketing has created an easy way of communicating between customers and their businesses, by putting up information via social media where most customers are able to access the information about a certain brand ,tracking a customer’s activities and providing enough information to the customer based on thei
activities.
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