Saturday, October 19, 2019
Relationship Marketing Term Paper Example | Topics and Well Written Essays - 1000 words
Relationship Marketing - Term Paper Example The term paper "Relationship Marketing" talks about the strategies to develop strong associations with customers through providing information which matches their requirements and desires. In the business viewpoint, relationship marketing is concerned with appealing, developing and retaining customersÃ¢â¬â¢ relations. Relationship marketing is based on developing a mutually advantageous exchange between industry associates. The growth of relationship marketing was accelerated by the literature of management advisors. The present concept of relationship marketing drifted from Ã¢â¬Ëorganizational behaviorÃ¢â¬â¢ and Ã¢â¬Ëindustrial marketingÃ¢â¬â¢ where reliance among organizations has been the basis for a successful business to business coalitions. According to Iacobucci and Hibbard, the relationship in commerce can be of three kinds, which are: Ã¢â¬Å"Business Marketing RelationshipsÃ¢â¬ (BMR), Ã¢â¬Å"Interpersonal Commercial RelationshipsÃ¢â¬ (ICR), and Ã¢â¬Å"Business to Customer RelationshipsÃ¢â¬ (B-to-C). In BMR the business associations are characterized by long-standing, close and deep connections between fairly symmetric associates. BMR requires assurance, faith, and reliance in understanding business relations. ICR is characterized by the relationships between service organizations and end users. ICR can occur between two relatively balanced associates and it is long-term in nature. The consequences of effective ICR include increased satisfaction and productivity. Finally, B-to-C is demarcated by technology oriented relations among business and individual consumers.