Essay On Relationship Marketing

India’s heterogeneity – ethnic groups, income levels, geographies, religions, languages, urban/rural mix – leads to a lot of variation in the tastes and likings of the consumers. Hence understanding the need of the Indian consumer and planning as well as forecasting their change in purchase behavior is always a challenging exercise for organizations during the launch of new products. The external analysis by organizations also includes competition analysis and the changing market scenario. They have to continuously keep track of global companies extending their brand in the Indian market and also the Indian companies innovating to extend their product portfolio resulting in diminishing the advantages the key success factors of existing products.

The authors have summarized 72 definitions along with 50 general defining constructs of relationship marketing. In addition, sector-specific defining constructs for the banking, insurance, and health care sectors have also been identified. This article bridges the gap in the existing relationship marketing literature by providing a comprehensive list of relationship marketing definitions and identifying major general as well as some sector-specific defining constructs along different industry verticals. The review of the existing literature was done to reduce the time and efforts of present and future researchers in this area by providing a quick snapshot of the existing definitions and major defining constructs that constitute relationship marketing. In recent time energy efficiency and its advantages have created new constructs in the overall decision process of the customer. My literature review includes understanding studies done on purchase of energy efficient devices for residential sector.