Relationship Marketing in Consumer Markets- an Article Review
ARTICLE REVIEW
“Relationship marketing in consumer markets Rhetoric or reality?” By: O'Malley, Lisa; Tynan, Caroline. European Journal of Marketing, 2000, Vol. 34 Issue 7, p797, 19p; (AN 3497728)
Synopsis
This report is based on the notions of relationship marketing relative to consumer markets
This journal article (“Relationship Marketing in Consumer Markets: Rhetorical or Reality”)- focuses on the different aspects of relationship marketing and its effects on the business to consumer markets. This article addresses notions of relationship marketing such as its definition, stages in the Business Customer Relationships (BCR), Relationship marketing strategy in consumer markets, the four tangible manifestations of RM in Consumer Markets and situations where relationship exchange is taken.
Introduction
This case study report is solely based on the notions of relationship marketing relative to consumer markets.
Analysis would be made on the notions of relationship marketing such as its definition, stages in the Business Customer Relationships (BCR) and subsequently, the Relationship marketing strategy in consumer markets.
Discussion
Definition of Relationship Marketing
This journal article states that “…relationship marketing is conceptually distinct from transaction marketing, direct marketing, database marketing , loyalty marketing and retention marketing on the basis that these are tactical, while RM focuses on long-term interaction leading to emotional and social bonds…”(Lisa O’Malley, 2000).
Blythe defines relationship marketing as:
“…a business approach that concentrates on the long-term relationship between the firm and its stakeholders rather than on single transactions..”
(Blythe, “Essentials of Marketing”, 2001).
Hougaard and Bjerre define relationship marketing as:
“… company behaviour with the purpose of establishing, maintaining and developing competitive and profitable customer relationship to the benefit of
“Relationship marketing in consumer markets Rhetoric or reality?” By: O'Malley, Lisa; Tynan, Caroline. European Journal of Marketing, 2000, Vol. 34 Issue 7, p797, 19p; (AN 3497728)
Synopsis
This report is based on the notions of relationship marketing relative to consumer markets
This journal article (“Relationship Marketing in Consumer Markets: Rhetorical or Reality”)- focuses on the different aspects of relationship marketing and its effects on the business to consumer markets. This article addresses notions of relationship marketing such as its definition, stages in the Business Customer Relationships (BCR), Relationship marketing strategy in consumer markets, the four tangible manifestations of RM in Consumer Markets and situations where relationship exchange is taken.
Introduction
This case study report is solely based on the notions of relationship marketing relative to consumer markets.
Analysis would be made on the notions of relationship marketing such as its definition, stages in the Business Customer Relationships (BCR) and subsequently, the Relationship marketing strategy in consumer markets.
Discussion
Definition of Relationship Marketing
This journal article states that “…relationship marketing is conceptually distinct from transaction marketing, direct marketing, database marketing , loyalty marketing and retention marketing on the basis that these are tactical, while RM focuses on long-term interaction leading to emotional and social bonds…”(Lisa O’Malley, 2000).
Blythe defines relationship marketing as:
“…a business approach that concentrates on the long-term relationship between the firm and its stakeholders rather than on single transactions..”
(Blythe, “Essentials of Marketing”, 2001).
Hougaard and Bjerre define relationship marketing as:
“… company behaviour with the purpose of establishing, maintaining and developing competitive and profitable customer relationship to the benefit of