There is a wider acceptance of the fact that relationship marketing is different from that of the traditional or one may also refer to it as transactional. Proponents of relationship marketing as a paradigm shift to traditional marketing theories criticized the transactional nature of traditional marketing concept. so as to gather more and more information about the customers and target them accordingly in developing the relationship. x��]Ko$9r�����X��k�$�I����j�/�mƗ]������0�|}AF0�RI�>L��� �F��a8��ap���_���/���������/���o_��E�&���>�������~�����6u2�,�z�`_���חA
�R'���e�^��Ӡ�i��a���4Nˤ֗a��h��}V뼍��7�ye�y���b������s���]�m�/p�+�M@�5���R����_�Ἆ��+4\`�j���i)�ژ�Bz2ӿ���JedX7���Ï��O����2�ny�f2�hl��M�;��Ņ���5Sۺ��+��B,���S�(�5:��Cx�Kh4C �f�ut��8��8|�fa��@p��G�Wy�&�d˰��b[1�i�&MyB�`I��*�ݦ��86 <> Srivastava, R., Tasadduq, S., and Liam, F. (1999), “Marketing, Business Processes, and Shareholder Value: An Organizationally Embedded View of Marketing Activities and the Discipline of Marketing,” Journal of Marketing, Vol. Zinkhan, G. M., and Cheng, C. S. A. The trend of newer technologies goes down deep in trying to understand the needs, demographic, area of choice etc. Relationship Marketing Relationship marketing-establishing, developing, and maintaining successful relational exchanges-constitutes a major shift in marketing theory and practice. Before the entry of newer technology, it took time for any organization to build the considerable level of trust from the customer end by repeating the same set of activities that would take care of the customer requirement and would result in their satisfaction and thereby maintaining their retention. Part 1: Advantages of Relationship Marketing. Today’s Post: Part 2. 758-769. They argued that the positivist ), Understanding Stakeholder Thinking, pp. 23, May/June, pp. Each document builds on the other. Relationship marketing is built on three different yet related theoretical approaches. © 2020 Springer Nature Switzerland AG. (ed. The topic selection (Relationship marketing theory -Evaluating Relationship marketing-‐traditional marketing) form has to be completed than the keywords form to create the literature review. Whereas the new institutional economics approach explains the relationship marketing through the use of modern economic theories. The field of relationship marketing can be viewed as a sub-area of “market focused management.” In this issue, we present some cutting edge work on relationship marketing (RM). Webster, F. R. (1992), “The Changing Role of Marketing in the Corporation,” Journal of Marketing, Vol. Kerber, R. (1996), “Ligitious Crusader Uses Checks to Ensure No Junk is in the Mail,” Wall Street Journal, B1. Koiranen, M. (1995), “Custopreneurship Coalitions in Relationship Marketing.” In: Juha, N. Helsinki Finland: LSR-Publications. Arnould, E., Linda, P., and Zinkhan, G. M. (2002), Consumers, Chicago: Irwin /McGraw Hill. Relationship marketing is one of the most consequential forms of marketing there is. (1992), “Marketing Communication Intensity Differences Across Industries,” Decision Sciences, Vol. The network approach deals with an interactive approach of relationship in the B2B marketing segment and involves an inter-organizational relationship perspective (Low, 1996). A Literature Review. Here, we consider several strands of relationship marketing, including the concepts of: customer relationship management, stakeholder theory, affinity marketing, promotional incentives, strategy, and leadership. In both marketing theory and practice, relationship marketing has got monumental attention (Al-Hersh, Aburoub & Saati, 2014). %PDF-1.3 Yuki, G. (1998), Leadership in Organizations (third edition), Englewood Cliffs: Prentice Hall. 63, Special Issue, pp. The commitment-trust theory of relationship marketing says that two fundamental factors, trust and commitment, must exist for a relationship to be successful. 5 0 obj stream Disadvantages of Relationship Marketing. Rather than focusing on a specific ad or single campaign, relationship marketing affects every aspect of a company's business practices. At the most simple level, RM strategy prescribes that it is more effective to invest in long-term customer interactions than to rely on a series of potentially unrelated, one-time exchanges.
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