Innovative Approach To Relationship Marketing

Proposal of Innovative Approaches of Relationship Marketing in Business

Lendel, Viliam, Varmus, Michal, Business: Theory and Practice

Introduction

In developed countries, the change of business processes is characterized by customer orientation. Businesses do not develop their market activities based on the "idea" and "impressions" but on knowledge based from analysis of customers' data. However, activities based on that knowledge are feasible for a business only if they are available as processed data and on their base are adopted incentive decisions for finding, captivation and retaining of customers. This explains why it is now important to talk about relationship marketing and customer relationship management (CRM).

The importance

1. Objective and methodology

The main aim of this paper is to gain new knowledge in the field of relationship marketing with an emphasis on innovation and to highlight the possibility of proposing innovative approaches to relationship marketing. Proposal for innovative approaches to relationship marketing in marketing management can contribute significantly to the identification of weaknesses when building customer relationships and identify the scope for further improvement. The paper contains a detailed description of the procedure for successfully using of innovative approaches in relationship marketing.

This procedure should be used primarily for marketing managers as a valuable tool in their use of innovative approaches to relationship marketing, especially when building relationships with customers. Problem-solving requires the use of several methods in the paper, depending on the nature of the individual parts of the

The objects of research (the respondents) were managers at senior and middle level management of these businesses. The research involved a total of 207 respondents.

The biggest problem that hinders successful introduction of innovative approaches to relationship marketing is the lack of necessary funds. This has been the case for 119 of 207 surveyed businesses in Slovakia. Distrust of the management about the possible outcomes (in 57 businesses) may be partly related to the lack of information about technologies and markets (29 businesses). Other issues hindering the introduction of innovative approaches to relationship marketing in businesses in Slovakia are shown in Figure 1.

Innovative ideas can come from various sources. Slovak businesses mostly utilize the analysis of customer needs (in the 145 businesses), which we regard as a positive fact. Building strong relationships with customers bolstering innovative ideas from customers based on accurate identification of their needs. This is followed by internet (in the 137 businesses), private employees (in 127 businesses), analysis of competitors' products and services (in the 126 businesses) and fairs, conferences and exhibitions (in the 112 businesses). Other sources of innovative ideas and the number of Slovak businesses that use them, are shown in Figure