3.Referral Market: Referral marketing is when we buy something after being referred by our friends and relatives. In general we can understand this term as “Word of Mouth”. In case of Service Marketing, Referral marketing is very common. We can also find this in our daily life. We can get hundreds of advises when we look for a doctor. Everyone in our family would suggest a different Physician. So this is what Referral Marketing is.
So Referral Market can further be divided into 2 categories: Customer and Non Customer Referral Markets. So this is the cheapest way of promotion and effective too. So our main priority should be “Customer Satisfaction”.