The paper "Antecedents And Consequences of Customer-Company Identification" is a great example of a Marketing Assignment. Relationship marketing entails direct advertisement that is established through a direct response where through campaigns the company focuses on developing customer loyalty. The businesses that utilize relationship marketing work towards enhancing not only sales transactions but also customer satisfaction and retention. Relationship marketing has great value for establishing long-term customer relations where it extends the customer communication beyond sales promotional campaign and intrusive marketing. The technological advancements taking place globally have contributed a lot to relationship marketing as companies are in a better position to develop close relations through improving communications with its customers (Palmatier, et al.
2009). Relationship marketing has evolved over time due to the technological advancements taking place where customers are being brought close to the organizations. This essay explores relationship marketing in organizations where Starbucks and Coca-Cola Company are used in the process of discussing the application of relationship marketing in the industry. Relationship marketing Relationship marketing emphasizes more on the continues satisfaction of customers rather than personal transactions. However, the aspect usually differs from other kinds of marketing whereby the relationship marketing targets those audiences who are most suited on direct information concerning both the products and services.
The reason as to why relationship marketing aims at these audiences is to retain the interests of the customers. On the side of direct marketing, this form of marketing mostly focuses on the acquisition of new customers by aiming at the majority demographics. Moreover, the consumer market grew from traditional marketing which was a system that was suitable for selling products of low value to a large number of customers (Grö nroos, 2004).
Over several years, various attempts have been enacted so as to widen the scope of marketing, and where relationship marketing is among those attempts. In addition, relationship marketing has the capability of becoming two-way that is facilitating a good relationship between the client and the provider of the consumer goods. Moreover, the encouragement for feedback is expected to grow faster within a few years in the future (Reinartz and Kumar, 2003). Therefore, since the organizations are witnessing the importance of establishing a relationship that is good with their clients, definitely it will lead to the introduction of two-way marketing communication. Besides, by making use of relationship marketing, various aspects can now be customized as well as aiming for the personal customer organization.
Customer retention marketing is a kind of marketing that is usually based on the behavior of a customer. It is the major activity of the relationship marketing whereby it acts as the future behavior of customers (Palmatier, Dant, and Grewal, 2007). However, the essence concerning the concept of marketing which aims at establishing a good relationship is usually based on the acknowledgment of the needs of the customers.
For instance, in a case whereby a certain firm fulfills the requirements and as well as establishing the aspect of value for the clients, that company is more likely to stand at a better opportunity of success. In addition, some of the significant values which are involved in the process of relationship marketing include long-term collaboration and the recognition of all active parties. Importantly, these core values mostly lay more emphasis on the collaboration as well as the creation of the mutual values of relationship marketing.
However, the aspect of relationship marketing is always expected to be a win-win rather than a win-lose (Shani and Chalasani, 2013). Furthermore, relationship marketing in most cases facilitates customer retention and on the other side, it discourages the aspect of defection. Additionally, since relationship marketing is a process, it encourages the retention of marketing as their priority whereas the acquisition of new customers becomes their second priority.
Ahearne, M., Bhattacharya, C. B., & Gruen, T. (2005). Antecedents and consequences of customer-company identification: expanding the role of relationship marketing. Journal of applied psychology, 90(3), 574.
Grönroos, C. (2004). The relationship marketing process: communication, interaction, dialogue, value. Journal of business & industrial marketing, 19(2), 99-113.
Hollensen, S. (2015). Marketing management: A relationship approach. Pearson Education.
Palmatier, R. W., Jarvis, C. B., Bechkoff, J. R., & Kardes, F. R. (2009). The role of customer gratitude in relationship marketing. Journal of marketing, 73(5), 1-18.
Palmatier, R. W., Dant, R. P., & Grewal, D. (2007). A comparative longitudinal analysis of theoretical perspectives of interorganizational relationship performance. Journal of marketing, 71(4), 172-194.
Reinartz, W. J., & Kumar, V. (2003). The impact of customer relationship characteristics on profitable lifetime duration. Journal of marketing, 67(1), 77-99.
Shani, D., & Chalasani, S. (2013). Exploiting niches using relationship marketing. Journal of Services Marketing.
Verhoef, P. C. (2003). Understanding the effect of customer relationship management efforts on customer retention and customer share development. Journal of marketing, 67(4), 30-45.