Marketing

Relationship Marketing Theory Marketing Theories Taxonomy

Name of Theory | Relationship Marketing Theory |

Germinal Authors | [Insert the name of the germinal authors for this theory] |

APA Reference #1 | Bagdoniene, L., Kunigeliene, D., & Jakstaite, R. (2007). The Concept of Customer Relationship Marketing as Factor of Competitiveness in the Field of Knowledge Intensive Business Services. Social Sciences (1392-0758), 57(3), 7-15. Retrieved from SocINDEX with Full Text database. |

APA Reference #2 | Manton, E., English, D., & Kernek, C. (2008). Evaluating Knowledge and Critical Thinking In International Marketing Courses. College Student Journal, 42(4), 1037-1044. Retrieved from Education Research Complete database. |

Description & Analysis 350 to 500 words No direct quotations APA citations required | Relationship Marketing is as much about keeping customers as it is about getting them in the first place. The aim is to provide unique value in chosen markets, sustainable over time. Relationship Marketing emphasizes both quality and customer service and how these can be managed towards closing the ‘quality gap’ between what customers expect and what they get. The authors explore the process of developing and implementing relationship strategies and in so doing signal a radical shift in marketing practice involving firstly, the coordination of external (customer) markets and secondly, collaboration within internal (staff) markets in order to get the marketing mix right. In some versions of the relationship marketing concept, the marketing focus is entirely on the relationship and not on the product (Ravald and Gronroos, 1996). A firm would not find competing on the core business alone to be sufficient, and must compete on the total offering, of which the product itself is but one element. All elements of the offering are examined for their value-producing aspects, and those which do not provide consumer value are eliminated. Firms develop...