Introduction to Relationship Marketing, Benefits of Relationship Marketing, Evolution of Relationship Marketing, Levels of Relationship Marketing, Success in Relationship Marketing

1. RELATIONSHIP
MARKETING
PRESENTED BY: NEERAJ GARWAL

2. INDEX
• Introduction.
• Benefits.
• Transition of Relationship marketing.
• Transaction Vs. Relationship Marketing.
• Levels of Relationship.
• Six Market Model.
• Players in Relationship Marketing
• Relationship Marketing and 4P’s.
• Success in Relationship Marketing

3. INTRODUCTION
• “Relationship Marketing is a strategy to attract, maintain and
enhance customer relationship”
- Berry.
• “Relational Marketing refers to all marketing activities directed towards
establishing, developing and maintaining successful relational
exchanges.”
- Morgan & Hunt (1994).

4. Benefits of relationship marketing
1. Long-term retention of the customer.
2. Word of mouth.
3. Rise in the price of a product.
4. Valuable feedback.
5. Competitive edge.

5. EMPHASIS ON
CUSTOMER
RETENTION
TRANSITION OF RELATIONSHIP MARKETING
RELATIONSHIP
MARKETING
TRANSACTION
MARKETING
EMPHASIS ON
CUSTOMER
ACQUISITION
FUNCTIONALLY
BASED
CROSS-FUNCTIONALLY
BASED
PUT SIMPLY – Transactional marketing is short-term thinking,
While relationship marketing is long-term thinking.
PERIOD FOCUS AREA
1950’s Consumer Goods
Marketing
1960’s Industrial Goods
Marketing
1970’s Marketing of Non-Profit
Organization or Societal
Marketing
1980’s Services Marketing
1990’s Relationship Marketing

6. TRANSACTION VS. RELATIONSHIP
MARKETING

7. 1. Basic Marketing.
2. Reactive Marketing.
3. Accountable Marketing.
4. Proactive Marketing.
5. Partnership Marketing.
LEVELS OF RELATIONSHIP MARKETING

8. 1. Internal Markets
2. Referral Markets
3. Influence Markets
4. Employee Markets
5. Supplier Markets
6. Customer Markets
SIX MARKETS MODEL

9. PLAYERS IN RELATIONSHIP MARKETING
1. Supplier
2. Distributor
3. End users
4. Employees
5. Financial Firms
6. Government
7. Media
8. Allies
9. Competitor
10. General Public

10. Product
i. Products are more customised to the customer’s
preferences.
ii. New products are developed and designed
cooperatively with supplier and distributor.
RELATIONSHIP MARKETING AND 4P’S

11. PRICE
1. The company will set a price based on the relationship with the customer and the bundle of
features and services ordered by the customer.
2. In business to business marketing, there is more negotiation because products are often
designed for each customer
PLACE
1. RM favours more direct marketing to the customer, thus reducing the role of middlemen.
2. RM Favours offering alternatives to customers to choose the way, they want to order, pay for,
receive, install, and even repair the product.

12. PROMOTION
1. RM favours more individual communication and dialogue with customers.
2. RM favours more integrated marketing communications to deliver the same promise and
image to the customer.
3. RM sets up extranets with large customers to facilitate information exchange, joint planning,
ordering, and payments.

13. 1. Market Knowledge
2. Training Programs.
3. Empowering Employees
FACTORS FOR SUCCESS IN RELATIONSHIP MARKETING

14. • https://www.researchgate.net/publication/233894851_The_Commitment-
Trust_Theory_of_Relationship_Marketing
• https://businessjargons.com/relationship-marketing.html
• https://shodhganga.inflibnet.ac.in/bitstream/10603/35697/8/08_chapter_1.pdf
• https://www.researchgate.net/publication/233894851_The_Commitment-
Trust_Theory_of_Relationship_Marketing
• https://accountlearning.com/six-markets-model-relationship-marketing-explanation/
• https://www.superoffice.com/blog/relationship-marketing/
REFERENCES