Business

Effectiveness of relationship marketing with colleges/universities

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Effectiveness of relationship marketing with colleges/universities

In the past decade, relationship marketing, both as an academic research focus and in business practice has experienced rapid growth. Relationship marketing can be defined as all activities of marketing that are meant to establish, develop, and maintain successful relational exchanges. An assumption made by most research as well as practice is that relationship marketing efforts help in generating stronger customer relationship which enhance and create seller performance outcomes which include share, sales growth as well as profits. Building relationships between bodies of industry and Universities is of great significance to create value for stakeholders in various universities. It can be quite beneficial for both universities and bodies of industry to build strong links toward enriching as well as improving research and educational projects. The Government tends to act as a promoter of those relationships for the research and development benefits regarding the public universities’ case. There is a significant trend focusing on more as well as stronger relationships between industry bodies and Universities hence opening an interesting debate concerning benefits and potential conflicts of the relationships. Regarding the topic, most studies tend to show that building University-industry’s benefits are quite evident for both participating partners. However, several studies tend to focus on the technology’s transfer as well as research center productivity hence leaving a gap on other relationship types’ study.

Most of the Universities tend to perform their work in an environment that is increasingly unstable and conditioned by various factors such as the evolution of companies in their influence sphere and fast technological progress. Therefore, these potential changes force...