ipl-logo

Relationship Marketing Definition

9383 Words38 Pages

TABLE OF CONTENT:

1. Relationship Marketing: An Overview.
2. Review of Literature.
2.1. General Review of Literature.
2.2. Review of Various Research Reports.
2.3. Review of an International Report.
2.4. Review of a Case Study
2.4.1 A Case Study on Relationship Marketing in Amazon.Com
2.4.2 A Case Study: Find a Way into the Hearts of Customers.
2.5. Industrial Best Practices
2.5.1 Best Practices in Relationship Marketing
2.5.2 Best Practices: How to Build and Maintain Strong Relationships
2.5.3 Best Practices: How to Target and Adapt Relationship Marketing
2.5.4 Examples of Companies Practicing Relationship Marketing
3. Conclusion.
References

1. RELATIONSHIP MARKETING: AN OVERVIEW

The importance of relationships in business exchanges …show more content…

Relationship marketing theory implies that consumers enter into relational exchanges with firms only when they think that the benefits derived from such relational exchanges exceed the costs.

According to Bartlett and DeSteno, (2006) Gratitude also emerges as a key force that highly influences relationships across disciplines and represents the emotional core of reciprocity as well as a key motivating force in the development and maintenance of cooperative relational bonds. Gratitude serves as a catalyst or trigger that promotes relationship development, which then influences social behavior as long as the emotions lasts (Bartlett and DeSteno, 2006).

According to Ndubisi, N O (2007) it is very often that marketers use relationship marketing to make customers loyal in order to ensure that customers will come back to service provider again and again for the similar service requirement; Customer Loyalty is central to the relationship marketing. Further it was also demonstrated that measurement of the underpinnings of relationship marketing can predict customer loyalty. Therefore, firms intended to nurture customer loyalty must pay close attention to various aspect of relationship marketing viz. trust, commitment, communication and conflict

Show More
Related

  • Mkt/421 Week 1

    518 Words  | 3 Pages

    I documented how there are three types of exchange; with Generalised and Complex exchanges being non-dyadic, as they involve three or more parties. I illustrated how each differs; with a Generalised exchange involving each party receiving benefit from a party they do not benefit and a Complex exchange involving a level of benefit for each party, in an interrelated process. I concluded that an exchange between three or more parties, each party does not receive the same value, unlike a dyadic exchange. Kieran explain generalised exchange by providing the example of a company hiring a delivery driver, who delivers the company’s product to customers.

    Read More

  • Cy-Fair Team Work Case Study

    310 Words  | 2 Pages

    Good working relationships are imperative to a successful team. However, this cannot be a one sided measure.

    Read More

  • Btec Business Level 3 Unit 5 P4

    1809 Words  | 8 Pages

    Because of this, B2B marketers need to focus on building a relationship with its business prospects and taking into account the buyer's specific

    Read More

  • Personal Narrative: Franklin County

    365 Words  | 2 Pages

    What’s the purpose of friendship? Unfortunately, I was forced to learn this the hard way when I attended the ‘Virginia Aerospace Science and Technology Scholars’ Summer Academy over the summer of my junior year. The experience at the academy was unlike any other, but the challenge to make new friends was the most intimidating there than anywhere else that I’ve visited, especially at my own school. Yet, my school holds many of the common and well known people, such as teachers, that I could lean on for mental support, while at the academy had everything but Franklin County. What I meant by ‘but Franklin County’, I am actually referring to the wide varieties of different ethnicities and educational backgrounds that imploded into one single summer

    Read More

  • Essay On The Effect Of Temperature On Osmosis

    1159 Words  | 5 Pages

    In reference to a study conducted by Irfan Nadiadi and Sarah Mugharbil (2007), the end results of

    Read More

  • The Role Of Envy In The Crucible

    1248 Words  | 5 Pages

    Connections An old proverb states, “A shared joyed is a double joy, shared sorrow is a half sorrow”. This simple concept is much easier said than done. To feel joy double and feel sorrow half, we must develop and cultivate relationships with others. Throughout life people encounter many relationships that cause a variety of emotions, envy, greed, forgiveness, and loneliness.

    Read More

  • Ssgt Joseph White Case Study

    1934 Words  | 8 Pages

    As stated by Miller and Rollnick, a positive relationship begins with “establishing a trusting and mutually respectful working relationship,

    Read More

  • Three Types Of People: The Three Most Successful People

    2181 Words  | 9 Pages

    But when it comes to workplace interactions, our generous qualities don’t always shine through. But most of us actually spend the majority of our waking hours at work. This means that the way we interact with our co-workers during work period is a fundamental part of who we are. We should not reserve our giver values solely for our personal lives. We should also apply it to our professional environment because this is also critical in making good friends.

    Read More

  • ALDI: Customer Relationship Management

    1275 Words  | 6 Pages

    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

    Read More

  • Apple's Competitive Advantage Strategy

    704 Words  | 3 Pages

    Often media points to Apple’s massive cash reserve as a key strength that the company could leverage to become even more successful (Ferrell & Hartline, 2014). If Apple asked, what should Apple do with the cash (Ferrell & Hartline, 2014)? Apple could better meet the consumer's needs and wants by strategically investing that cash for the company’s future by developing and leveraging a competitive advantage strategy (Ferrell & Hartline, 2014). A competitive advantage stems from strengths the organization possesses and weakness the competitor possesses (Ferrell & Hartline, 2014). Having a competitive advantage over their competitors can also be based on perception rather than reality (Ferrell & Hartline, 2014).

    Read More

  • Moccona Coffee Case Study

    1044 Words  | 5 Pages

    In marketing, customer relation is very important, since customers play the main role in achieving ones

    Read More

  • The Paradox Of Embeddedness Analysis

    1151 Words  | 5 Pages

    Powell's (1990) analysis of the sociological and economic literatures on exchange suggests that transactions can take place through loose collections of individuals who maintain impersonal and constantly shifting exchange lies, as in markets, or through stable networks of exchange partners who maintain close social relationships. The key distinction between these systems is the structure and quality of exchange ties, because these factors shape expectations and opportunities. Brain Uzzi found that most ties between firms were arms-length (i.e., they were greater in frequency) but they were of much lesser significant than the closer, "special", embedded ties.

    Read More

  • Relationship Between Hospitality And Tourism Industry

    1572 Words  | 7 Pages

    First of all customer means A person who buys goods or services from a shop or business, loyalty means the state or quality of being loyal, faithfulness to commitments or obligations. So Customer loyalty is the key objective of customer relationship management and describes the loyalty, which is established between a customer and companies, persons, products or brands. “Customer loyalty is an essential aspect in any organization whether it is offering a good or providing a service. “Many organizations are looking for various ways to increase their customer loyalty as it has a positive effect on the profitability of the organization.” (Gremler 1996: 171, Abdullah et al. 2000: 826).The individual market segments should be targeted in terms of developing customer loyalty.

    Read More

  • Essay On Positive Energy

    981 Words  | 4 Pages

    This helped me in building strong relationship with the colleagues and customer. I would like to share my experience that how I use the positive energy to build a relationships with the colleagues while I was working in an organization. - Whenever I meet with colleague, like to smile. - Buying extra cup of coffee for co-worker. - Offer to cover a shift for a coworker who needs to leave early.

    Read More

  • Advantages And Disadvantages Of Globalization In Nigeria

    1458 Words  | 6 Pages

    This chapter discusses the review of relevant literature. As part of this research, which includes articles seminar paper, newspapers , textbooks , etc. The review materials are grouped under the following headings 1.

    Read More

More about Relationship Marketing Definition

Open Document