Question

One of the ‘fundamental goals’ of relationship marketing is said

to be ‘maximising the lifetime value of a customer’. How would you
advise Palm Bay Hotel to improve its relationship marketing?

Answer 1

To improve its relationship marketing, Palm Bay Hotel can offer personalized experiences and rewards, implement a customer loyalty program, and engage with customers through effective communication channels.

Step-by-step explanation:

To improve its relationship marketing, I would advise Palm Bay Hotel to focus on strategies that maximize the lifetime value of a customer. This can be achieved by:

1. Offering personalized experiences and rewards to loyal customers, such as exclusive discounts or upgrades.
2. Implementing a customer loyalty program that incentivizes repeat business and encourages referrals.
3. Engaging with customers through effective communication channels, such as email marketing or social media, to build strong relationships and gather feedback.

By implementing these strategies, Palm Bay Hotel can foster long-term customer relationships, increase customer retention, and ultimately maximize the lifetime value of each customer.