There are discuss three things in the article, first it discuss the concepts of guanxi and relationship marketing and explores their similarities and differences. Second, it presents a theoretical framework that links guanxi and relationship marketing together. Last, it talk about linking guanxi and relationship marketing together will provide a valuable insights for all Asian firm.
Guanxi is a Chinese term and it develops relationship at the inter-personal level. Guanxi can refer to the relationship between people with shared characteristics, frequent contact between people, and direct communication with people. Having a right guanxi can bring many advantages especially people who conduct business in China will more beneficial. In contrast, relationship marketing is develops relationships at the inter-organizational level and enhance in customer relationships. Guanxi also involves affection, which plays a key role in maintaining and enhancing personal relationship and in making impersonal business relationships more personal.
Establishing partnerships and networks capable of handling the service process is an important strategic issue in relationship marketing. People who want to implement relationship marketing approach need to change the traditional ways of managing marketing. There are three elements
…show more content…
They also have the same goal of maintaining long-term relationships with partners rather than building relationships from a single transaction. In contrast, differences in guanxi and relationship marketing had divided into seven types which are strategic versus tactical orientation, organizational versus individual orientation, calculative versus affective commitment, open versus closed systems, relationship marketing versus guanxi constructs, relationship marketing versus guanxi promises, and transactional versus relational basis of relationship
Because of this, B2B marketers need to focus on building a relationship with its business prospects and taking into account the buyer's specific
CASE STUDY: You are the marketing manager for a chain of home-ware stores in Brisbane called Houzit. The marketing plan for the 15 Houzit stores was developed over 12 months ago and you are actively engaged in implementing the strategies to achieve the marketing objectives. Specifically, you are instigating those marketing activities that meet the marketing objectives of a 12% market share (up from 11%) and an increase in sales by 8.5% over last year’s result. No expansion stores are planned during this phase of consolidation and on average the stores achieved $24,680 per week for the year.
A true friendship must include trust between two people who really care about each other. The novel, “A Separate Peace,” by John Knowles demonstrates the bond between two friends, and how that bond is kept together by trust. This quality can destroy or build a friendship. This story presents the trust and loyalty in a friendship.
Introduction Zappos is an online shoe retailer that started its business in the year 1999. The company later expanded and increased the variety of the products of its business by adding clothing, beauty products, and housewares. The Zappos Customer Loyalty Team Case Study emphasizes on the customer service department and the initial focus the drop ship method. The company also created a brick and mortar storefront to expand the business from online only and increase sales. The management of Zappos took an innovative approach to earn their required return on investment.
SSGT Joseph White came into the local VA Community based clinic for medical care. When he was discussing his situation at home, the medical doctor found that it would beneficial that the social worker talk with SSGT White. The social worker obtained an appropriate assessment to assist with finding services that would be available to him through the VA and/or local community organizations for his symptoms and treatment options. When establishing a relationship with a potential client, building and keeping a rapport with the individual is key to a positive working relationship. The individual needs to feel that they are respected, understood, and listened to when the relationship begins.
Brand management and enhancements have been essential in the B2C market but has received less attention when examining B2B relationships. In order to fulfill this gap and the research purpose the following two research questions have been
In general, it is hard for foreign companies to establish themselves in the Asian market, especially in China, because of the strong cultural background. It will not work out well for a foreign company to adapt its marketing model to the Chinese market. Marketing models such as direct marketing of the brand, which works well in the American market, is likely to fail in the Chinese market. Although Groupon has spent millions into marketing its brand on the Chinese market, the Chinese customers were not ready to see the brand’s products being better as the one of its competitors. Chinese customers are less likely to be loyal to any brand due to their low levels of indulgence.
Question 1 answer: Customer relationship management is mainly about building relationships with a company’s targeted profitable customers and maintaining that relationship through delivering customer value, as in how a consumer perceives a certain product and values it enough to buy it rather than buying the competitor’s product, and delivering customer satisfaction where the product meets the exact expectations the consumer had actually expected from the product or more, but not less. Companies can build customer relationships at many levels, depending on the nature of the target market (Kotler and Armstrong, 1988). Companies with many low-margin customers can develop basic relationships by which a company doesn’t get to know it’s consumers
Leading brands have focused on building partnerships and alliances to reach each and every segment which has enabled these companies to offer more variety of products, better quality convenience and content. Alliances with leading portals search engines and websites helps in generating traffic and can provide brand a competitive edge over online customers because of its availability. 2.3.5 Importance of Online Brand Alliances Online brand alliances is relevant to the entrepreneurial firms who are unable to reach a wide variety of consumers and by utilizing this alliance they may overcome the problem of reaching economies and accessing markets. It helps the online retailing websites to get more popularity among B2B operating companies and helps in generating traffic through ppc (pay per click). While on the other hand it helps brick and mortar brands to reach the users worldwide and developing a two way relations with its customers.
In marketing, customer relation is very important, since customers play the main role in achieving ones
Johnny Cupcakes, Inc. also known as Johnny Cupcakes, is an independent clothing and accessories brand founded by Johnny Earle in 2001. Johnny Cupcakes is a mid-size apparel retailer, which selling T-shirts, shorts, sweaters, jewelry, undergarments, pins, hats and accessories. The brand tends to use cupcakes as the outstanding design motif to replace iconic symbol with a cupcake symbol on its clothing. The brand’s logo is skull and crossbones, with a cupcake replacing the skull. Johnny Earle started his idea of cupcakes-theme shirts while ordering a few screen-printed shirts for the hardcore metal band (On Broken Wings)
In the business environment, companies and other business players are related to each other through the exchange of relations, needs and competences. Companies do not contend on the personal level, they contend for the relationship level in the domestic and international environment. The relationships of companies in the local network can be used as ‘bridges’ in the international network. However the network approach also implies to move away from the unit conception of the firm towards more lasting relationships between firms constituting a strong structure where the international business takes place and
State-owned enterprises are difficult to penetrate for a foreign company like JPM. Employees with guanxi can minimize JPM’s costs, especially for government procedures, requirements and taxes. Connections add a significant measure of flexibility and freedom inside an authoritarian political system and is critical to JPM’s market access. Hiring the sons and daughter of these ruling elite give JPM immediate access to not just their connections but the connections of their parents as well. This is reflected in the hiring practices and the resultant connections with China Everbright and China Railway Group.
Strategic marketing is a broad and practical subject which included the concept of marketing subjects of previous semesters such as business marketing. The study of this subject has contributed to marketing knowledge in many ways, as well as it has strengthened my skills in application of marketing concepts. My knowledge was increased that I was able to develop a complete strategic marketing plan of not only on the part of marketing analysis or strategy of a product or service, but also the whole corporate plan. My skills and capabilities that were developed and integrated during lectures and tutorials include the analytical skills, coordination skills, presentation skills, organization skills, etc.
Introduction At the start of this course, I had no idea what to expect. This is due to the fact that marketing is a field that offers a combination of so many different disciplines such as art, psychology, and statistics. I encounter marketing on a daily basis but have strangely enough not reflected too much about it. Nevertheless, it is a very interesting subject, which deals with promoting and selling services and products.