Marketing Principle #3 All Competitors React  Managing Relationship-based Sustainable Competitive Advantage Agenda



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MarketingStrategyChapter07-2.4


Marketing Strategy Chapter 7 (Relationships)
Marketing Principle #3
All Competitors React  Managing Relationship-based Sustainable Competitive Advantage

Agenda

  • Introduction
  • Relationship Marketing Strategy
    • Building and Maintaining Relationships
    • Targeting and Adapting Relationship Marketing Strategies
    • Relationship Dynamics and Lifecycle Stages
  • Managing Relationship-Based Sustainable Competitive Advantage
  • Takeaways

Relationship Marketing Basics

  • This relationship marketing (RM) process—namely, identifying, developing, maintaining, and terminating relational exchanges to improve performance—can produce relationship equity
  • This form of equity, in combination with brands and offerings, in turn can lead to a sustainable competitive advantage (SCA)
  • Relationship marketing and branding strategies that focus on building equity often overlap
  • Customer relationship management is the managerially relevant, organization-wide, customer-focused application of RM, using IT to achieve performance objectives

Relationship Equity Represent an Important Source of SCA

  • Relational-based exchange was the norm since Homeric Greece
    • Transactional (product) marketing emerged only with the increase in mass production and “middlemen”
    • “a rebirth of marketing practices of the pre-industrial age”
    • Early brands were all “family names”
  • Impact of “relationship” spending on sales twice as high as impact of advertising
  • Large part of our “cognitive and emotional function” evolved to handle relationship-based processing
  • $12 billion spent annually on relationship management

(Albers, Mantrala, and Sridhar 2010; Palmatier 2008)

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