Relationship marketing : an evaluation of content, strategies and models applying in a monopolistic market

Visagie, Hendrik J. (2000-03)

Thesis (MBA)--Stellenbosch University, 2000.

Thesis

ENGLISH ABSTRACT: Relationship Marketing can be defined as an ongoing process of identifying and creating new value with individual customers, and then sharing that value over a lifetime of business association. The definition incorporates a number of key concepts such as long-term commitment, open and ongoing communication, trust and interdependence, collaboration and cooperation, as well as total organisational commitment. A wide range of models and strategies describe the processes and underlying constructs and clearly distinguishes between an organisational process and a behavioral process. The organisational approach focuses on the key organisational processes, technology, culture and values as well as corporate commitment needed to make this a success. The behavioral approach focuses on the key behavioral constructs needed for successful relationship management between buyer and seller, or manufacturer and retailer, for example ongoing communication, joint planning and performance evaluation, and trust and commitment. Customer satisfaction is highlighted as a key driver of the relationship management process and a number of cases clearly indicate that satisfied customers are needed for successful Relationship Marketing. It is not only about the wining and dining, but more about adding real value that will make customers commit their lifetime business. Relationship Marketing in a monopolistic market is discussed and the question is asked why any business should implement a relationship management process when that business is dominating the market. It is quite obvious that the benefits of a relationship marketing approach will drive customer value and satisfaction to higher levels and that the future lies in retaining customers and not recruiting new customers all the time. Even in monopolistic market situations organisations will try to increase or protect market share and developing long-term relationships with customers might just provide that competitive edge needed. Relationship Marketing is clearly not only about behavioral issues ,or on the other hand about organisational systems. It is an integrated approach incorporating all key organisational processes and systems which needs to be cemented in the corporate culture and values of the business. It is also an approach that advocate very specific behavioral constructs for example trust and commitment. - Any organisation that plans to incorporate a relationship marketing approach, needs to focus on the behavioral as well as organisational aspects of business.

AFRIKAANSE OPSOMMING: "Relationship Marketing" vertaal as verhoudingsbemarking word gedefinieer as 'n deurlopende proses van waarde toevoeging vir individuele kliente oor 'n lewenslange periode van besigheidassosiasie. Definisies van hierdie benadering beklemtoon 'n aantal belangrike konsepte soos onder andere langtermyn verbintenis, twee-rigting kommunikasie, vertroue en interafhanklikheid, en samewerking. 'n Aantal modelle en strategeë onderskei baie duidelik tussen 'n organisatoriese benadering en 'n gedragsbenadering tot verhoundingsbemarking. Die organisatoriese benadering beklemtoon die belangrikheid van stelsels, prosesse, waardes en kultuur, en implementering op totale organisatoriese vlak. Die gedragsbenadering definieer verskeie gedrags konsepte onderliggend aan 'n suksesvolle verhoudingsbemarking proses. Klientbevrediging as 'n sleutel suksesfaktor word bespreek en die stelling word gemaak dat ongelukkige kliente nie hulle lewenslange besigheid sal toevertrou aan 'n verskaffer wat nie hul behoeftes bevredig nie. Verhoudingsbemarking in 'n monopolistiese mark word bespreek en die voordele van hierdie benadering word uitgelig. Enige organisasie, ongeag die markaandeel, poog voortdurend om verder te groei en 'n verhoudings benadering kan daardie addisionele voordele bied. Ten slotte, word uitgewys dat verhoudingsbemarking beide 'n organisatoriese sowel as 'n gedragsbenadering insluit en enige maatskappy wat poog om hierdie konsep te implementeer, moet beide inag neem.

Please refer to this item in SUNScholar by using the following persistent URL: http://hdl.handle.net/10019.1/49680
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