The paper "New and Emergent Trends in Global Business" is a perfect example of a business annotated bibliography. This literature review develops a critical focus on an emerging trend in global business. In particular, the literature review explores the aspect of the emerging concept of relationship marketing as one of the key emerging trends in global business in the modern market context. The literature analysis evaluates the core influencing factors, as well as a list of supporting evidence to support raised arguments by the core evaluated article. Core Journal Analysis Palmatier, Robert W., et al.
"Factors influencing the effectiveness of relationship marketing: a meta-analysis. " Journal of Marketing 70.4 (2006): 136-153. The journal article develops a special and critical focus on the concept and argument of relationship marketing. In order to understand the article's arguments, it is imperative to understand and critically examine what is meant by relationship marketing. As the article authors rightly stated, this is a concept that has arisen and gained market popularity over the last decade. Gruen, Summers and Acito (36) described relationship marketing as the process by which organisations seek to market their products through the creation of a lasting relationship with the customers.
This has been a major pillar for the use of the stakeholders’ management philosophy in organisations. In this case, the marketing approach is aimed at addressing the core customer needs through a pull marketing approach, rather than applying the traditional push marketing strategy. The core arguments of the study revolved around the factors affecting a relationship marketing strategy success. In this case, the study analysis pointed out that there are a number of factors both internal and external that impact the nature and level of success of any developed relationship in the market between a seller company and the customers respectively. The first identified factor is the existing brand image and brand equity.
Brand equity, as Berry (132) argued, is the conglomerate value that a firm reputation and brand have in the market. This is comprised of the intangible value that a firm develops in the market over a longer period of time of operations.
Robert W., et al. "Factors influencing the effectiveness of relationship marketing: a meta-analysis." Journal of marketing 70.4 (2006): 136-153
Tax, Stephen S., Stephen W. Brown, and Murali Chandrashekaran. "Customer evaluations of service complaint experiences: implications for relationship marketing." The Journal of Marketing (1998): 60-76.
Durkin, Mark G., and Barry Howcroft. "Relationship marketing in the banking sector: the impact of new technologies." Marketing Intelligence & Planning21.1 (2003): 61-71.
Consumer market culture: Zhang, Sha Sandy, Jenny van Doorn, and Peter SH Leeflang. "Does the importance of value, brand and relationship equity for customer loyalty differ between Eastern and Western cultures?." International Business Review23.1 (2014): 284-292.
Morgan, Robert M., and Shelby D. Hunt. "The commitment-trust theory of relationship marketing." The journal of marketing (1994): 20-38.
Gruen, Thomas W., John O. Summers, and Frank Acito. "Relationship marketing activities, commitment, and membership behaviors in professional associations." Journal of marketing 64.3 (2000): 34-49.
Berry, Leonard L. "Cultivating service brand equity." Journal of the Academy of marketing Science 28.1 (2000): 128-137.
Tsitsi Chikandiwa, Sarah, Eleftherios Contogiannis, and Edgar Jembere. "The adoption of social media marketing in South African banks." European Business Review 25.4 (2013): 365-381.
Berry, Leonard L. "Relationship marketing of services—growing interest, emerging perspectives." Journal of the Academy of marketing science 23.4 (1995): 236-245.
Murdy, Samantha, and Steven Pike. "Perceptions of visitor relationship marketing opportunities by destination marketers: An importance-performance analysis." Tourism Management 33.5 (2012): 1281-1285.
Pike, Steven, and Stephen J. Page. "Destination Marketing Organizations and destination marketing: A narrative analysis of the literature." Tourism Management 41 (2014): 202-227.
Brettel, Malte, Steffen Strese, and Tessa C. Flatten. "Improving the performance of business models with relationship marketing efforts–An entrepreneurial perspective." European Management Journal 30.2 (2012): 85-98.