Applied business ethics
Marketing Management and Strategies
Seminar Session
Week -6
Class room discussions:
• Assess the benefits and disadvantages of relationship marketing strategies.
• How relationship marketing strategies for B2B interface may differ from those of B2C?
• Collect 3 business examples when CRM pitfalls were avoided and analyse them.
Directed learning
Please go through the following journal articles and the core textbook to solve the above questions:
• Gummesson, E. (1994), “Making relationship marketing operational”, Internatio
•
• [m, nal Journal of Service Industry Management”, Vol. 5. No.5, pp 5-20.
• Gronroos, C. (1994), “From marketing mix to relationship marketing: towards a paradigm shift in marketing”, Management Decision, Vol.32, No. 4. Pp 4-20.
• Zineldin, M. and Philipson, S. (2007), “Kotler and Borden are not dead: Myth of relationship marketing and truth of the 4ps”, Journal of Consumer Marketing, Vol. 24, No.4, pp 229-241.
• Assess the benefits and disadvantages of relationship marketing strategies.
Relationship marketing: the development of a long-term relationship between buyers and sellers. It involves open communications and the ability to know the customer so well that changes I wants and needs may be anticipated before they become the critical.
Benfits:
1. Benefit of having a long-term relationship is that it’s cost effective; it’s cheaper for a business to retain customers rather than lose.
2. Having long-term customers influences repeat business and if that customer is being satisfied then they’ll spread the word on how good your business is through word of mouth.
3. With happy customers they spend increasing amounts on the purchase of a specific product/service over time.
Disadvantage:
1. If a firm doesn’t make a good relationship with a customer then it can negatively affect the business, Customers may choose to use negative “word-of-mouth”. Especially with social networking, when a business performs
Seminar Session
Week -6
Class room discussions:
• Assess the benefits and disadvantages of relationship marketing strategies.
• How relationship marketing strategies for B2B interface may differ from those of B2C?
• Collect 3 business examples when CRM pitfalls were avoided and analyse them.
Directed learning
Please go through the following journal articles and the core textbook to solve the above questions:
• Gummesson, E. (1994), “Making relationship marketing operational”, Internatio
•
• [m, nal Journal of Service Industry Management”, Vol. 5. No.5, pp 5-20.
• Gronroos, C. (1994), “From marketing mix to relationship marketing: towards a paradigm shift in marketing”, Management Decision, Vol.32, No. 4. Pp 4-20.
• Zineldin, M. and Philipson, S. (2007), “Kotler and Borden are not dead: Myth of relationship marketing and truth of the 4ps”, Journal of Consumer Marketing, Vol. 24, No.4, pp 229-241.
• Assess the benefits and disadvantages of relationship marketing strategies.
Relationship marketing: the development of a long-term relationship between buyers and sellers. It involves open communications and the ability to know the customer so well that changes I wants and needs may be anticipated before they become the critical.
Benfits:
1. Benefit of having a long-term relationship is that it’s cost effective; it’s cheaper for a business to retain customers rather than lose.
2. Having long-term customers influences repeat business and if that customer is being satisfied then they’ll spread the word on how good your business is through word of mouth.
3. With happy customers they spend increasing amounts on the purchase of a specific product/service over time.
Disadvantage:
1. If a firm doesn’t make a good relationship with a customer then it can negatively affect the business, Customers may choose to use negative “word-of-mouth”. Especially with social networking, when a business performs