The Exchange Relationship

The Exchange Relationship

BUS 620 Managerial Marketing

February 21, 2011

Abstract

Companies make changes which try to enhance and develop growth for the business to survive. Many of the changes that occur benefit the corporation and develop a strong hold on the market they support. Most changes that are represented are positive which transitions the company image or goes through processes that encourage the creativity of doing things differently. This change will impact the bottom line of the corporation and employees that are employed with company. Marketing the ideas of what the organization wants to deliver can impact it acceptance of whether the prescribe product will product value and fulfill a need the customer wants. If the message is delivered and acceptance is received, the rewards can be felt through every part of the organization.

Defining the Direction

As the company is ready to hit the market with the product which will define itself, the organization must initially provide what the relationship will be and how it creates value. In reading the Marketing Management A Strategic Decision-Making Approach, it talks about marketing. Marketing is defined as social process involving the activities necessary to enable individuals and organizations to obtain what they need and want through exchanges with others and to develop ongoing exchange relationships. (Mullins & Walker, Jr. 2010, p. 6) To understand this is necessary because the relationship will be instrumental to ensure longevity of the product as well providing the values of what is to be delivered.

Customer relationships will be the key component in developing the strategy to market the product but other areas may very well be impacted. One area is that of retention of the customer which is very important but also within the internal area of the organization. As the business starts grow, relationships internal will need to be more effective and efficient in order to satisfy the...