International University of Travnik , Travnik , Bosnia and Herzegovina
Udruženje EconVita Zenica , Zenica , Bosnia and Herzegovina
Doing business in service sector of B&H is significantly threatened by external factors. The COVID-19 pandemic, inflation, energy instability and the war in Ukraine contributed to the growth of business costs, which increased service prices of our providers. Additionally, the increase in service prices has a negative effect on clients' demand, who try to find more favorable options by switching to competitors. As a potential solution to this problem, many authors propose application of relationship marketing, which would bind clients to their offer and thus secure their business. Therefore, the central hypothesis was defined: „Orientation towards relationship marketing significantly affects the number of clients of service companies“. The research was conducted on a random sample of 206 service companies across B&H. The results of regression analysis indicate the persistence of a significant influence of service companies's orientation towards the relationship marketing strategy on the growth of their clients number.
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