Wednesday, June 12, 2019

The Idea of Relationship Marketing Essay Example | Topics and Well Written Essays - 500 words

The Idea of Relationship Marketing - Essay ExampleIn this new method it was looked after that the individual transactions are important but it is more important to maintain long termed relationships with the customers. The basic fundamental of this stage is to develop an understanding of the customers views and needs thus it would enable the seller to provide a wide range of articles or service for a longer term. on that point are six fundamental principals or fundamental markets that are identified by Adrian Payne of Cranfield University in 1991. These are customer markets, influence markets, referral markets, recruitment markets, supplier markets and versed markets. (Fletcher, 2003)But there are specified criticisms to the approach of relationship market. According the critics this approach could hardly be evaluated as marketing. This is because this form defies the basic notion of marketing principal which states that the duty of market is to understand the need of the custome r in the first place and provide the solution. On the contrary relationship marketing could be enumerated as an extended variation of management, persuasion and public relation. (Lamb, 2004)However, it could be stated in this context that t

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