BUILDING RELATIONSHIP MARKETING THROUGH PARABLE AND STORYTELLING
No Thumbnail Available
Date
2013-11
Journal Title
Journal ISSN
Volume Title
Publisher
Babcock Journal of Management and Social Sciences
Abstract
Today most firms have realized the need to retain customers rather than search for the new prospects due to more cost and persuasive effort required to manage them. However, there is high rate of new products failure which indicates the absence of repeat purchase and no brand loyalty for these new products. Stories and parables are effective tools in passing information from one person or organisation to another. They are also needed to build relationship in marketing. The major problem faced by organisations is that this message sometimes may not be clearly and meaningfully communicated and hence, results to ineffective marketing of products and services. The objective of this paper therefore, is to examine how storytelling and parables are employed to build customer’s loyalty for firm’s products. Population sample of 1687 respondents were considered for the study in Ilorin, Kwara State, Nigeria. The respondents voluntarily participated in the survey and are basically consumers of household products. Questionnaire instrument was designed to elicit information from customers about the significance of storytelling as one of the marketing communication strategies used in building Relationship Marketing. G* Power 3.1 Software Package was used to perform data analysis. Findings revealed that personal selling is the most significant medium through which customers build brand loyalty. Also, parables and Storytelling are powerful forms of human communication that marketing executives employ to achieve long time relationship with customers. The paper recommends that marketers should endeavour to tell true story and make it appeal to customers’ senses. It is concluded that, building long time relationship through storytelling and parable will go a long way in determining the organization’s success, in terms of increase profitability and market share. Organisations therefore, need to develop effective means of communicating messages to their prospects and maintain profitable customer in order to achieve overall success and growth.