The Relationship Management as Philip, (2004) says is a tactic engaged by an organization in which a nonstop level of engagement is sustained between the organization and its audience. Relationship management can be between a business and its customers (customer relationship management) and between a business and other businesses (business relationship management).
Relationship management is a focus of the financial and investing industries as a way to identify possible cross-sales of products and services
Relationship management creates a partnership between the organization and its audience rather than consider the relationship merely transactional. Consumers who feel that a business responds to their needs are more likely to continue using the products and services that a business offers. Moreover, retaining a level of communication with consumers allows the business to identify potential sources of costly problems before they come to a head.