Explain the insights you have gained from your inspection and analysis of the demographic and psychographic information in order to develop effective relationship marketing.
When inspecting and analyzing demographic and psychographic information of audiences, marketers have the ability to gain valuable insights that help in developing more effective relationship marketing. Relationship marketing is a customer-centric approach which focuses on building strong relationships with customers through personalized engagement (Barnes et al., 2017). In order for companies to deliver successful services and products, it is essential that they understand both their existing customers’ needs as well as potential customers’ needs. By understanding demographic and psychographic characteristics, marketers are able to design targeted approaches that create long term customer loyalty (Hudson & Hudson, 2018).
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