Final answer:
Stronger relationships with customers generate repeat business, enhance reputation, and justify higher pricing, while good communication fosters community engagement and improves job satisfaction.
Step-by-step explanation:
Building stronger relationships with customers is crucial for business success. Companies strive for repeat customers who are more likely to recommend the business to others, driving word-of-mouth and fostering loyalty. A good reputation signals to buyers that they can trust the quality of products and services, potentially justifying higher prices and stabilizing the customer base. For example, a well-regarded grocery store can charge more than a temporary farmer's market stand because customers believe in the store's reliability and are willing to pay for that assurance.
Moreover, communication relationships are vital to effect community-wide change and promote continued business. Close contact increases the likelihood of forming relationships, as demonstrated in research on personal friendships and romantic relationships. For employees, viewing a manager as an 'internal customer' encourages the provision of exceptional service, which can lead to positive feedback and job satisfaction.