The Influence of Relationship Marketing Practices on Performance of Real Estate Firms in Nairobi City County

Abstract

The importance of relationship marketing as a component of an organization's overall strategy for the future has grown significantly in recent years. Relationship marketing practices are increasingly taking the center stage as an approach that companies are using to ensure customer loyalty as a means of improving sales and profitability. This is because relationship marketing practices allow businesses to build stronger connections with their customers. The overarching purpose of the research was to determine whether or not real estate companies in Nairobi city County exhibit a positive or negative response to the use of relationship marketing methods. Both the social exchange theory and the resource-based perspectives theory were used as the foundation for this investigation. The research was carried out using a methodology known as descriptive cross-sectional. The number of licensed real estate enterprises that are currently functioning in Nairobi was 255 for the purpose of this research. The research was conducted on a total of 72 different real estate companies. A descriptive study, multiple linear regression analyses, and correlation analyses were carried out. It was determined that communication and commitment had a modest influence on relationship marketing, while trust and the management of conflict were demonstrated to have a major impact on relationship marketing to a large amount. The data suggests a good association between relationship marketing and results. The model of study has significance since it led the researchers to the conclusion that performance and relationship marketing are closely related. According to the findings, it is recommended that Kenyan real estate companies use relationship marketing to improve their overall business success. The research concludes that this is the best course of action. The research suggests that in order to reap the full benefits of relationship marketing, companies must first identify the specific components of these strategies that apply to their sector, and then devote large resources there.