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Table of contents Abstracti 1 Introduction1 2 The Evolution of Relationship Marketing1 21 A paradigm shift1 22 Defining Relationship management2 3 Levels of the Relationship3 4 Prerequisites for the Relationship5 41 Commitment Trust Theory5 42 The value concept6 5 The Benefits of Relationship Marketing7 51 Organisational benefits7 52 Customer Benefits7 6 Managerial Implications9 7 Conclusion9 List of references11 List of tables Table 1 4 Table 28 1 Introduction Relationship Marketing RM has played a significant role in shifting the focus of marketing during the past two decades The purpose of this paper is to uncover the underlying theory behind RM and discuss its evolution as a new marketing paradigm More importantly the scope of this paper will be limited to the benefits received by the customer and the organisation resulting from a successful relationship A review of RM literature is presented followed by a discussion on the implications associated with RM 2 The Evolution of Relationship Marketing 21 A paradigm shift Marketing literature consistently attributes the coining of the term Relationship Marketing to Leonard Berry Berrys concept of RM came of age in 1983 when he proposed that the servicing of existing customers was just as important to an organisations success as attracting new ones Berry 1983 Prior to Berrys 1983 paper popular literature in regards to marketing almost exclusively covered the attraction of new customers to an organisation A shift away from this paradigm was becoming increasingly obvious by the mid 1970s and was reflected in Richard Bagozzis 1975 paper which began to look at the importance of exchange relationships Bagozzi 1975 p32 noted that contemporary marketing literature dealt exclusively with restricted or gives to and receives from exchanges where the retailer attempts to gain an advantage over the customer Bagozzi 1975 proposed that if retailers attempted to maintain equality with their clients it would result in repeat purchases Gronroos 1994 further added to the RM debate
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