Relationship Marketing - 1024 Words

Definition trust: Confidence in the exchange partners reliability and integrity (morgan and hunt 1994) Two level of trust: young 2006 1 cognitive, calculative, and rational 2 emotional reasoning Trust may: (efek dr kepercayann) -reduce harmful conflict -decrease transactional cost (biaya nego) -promote adaptive organizational forms (network relationship) -facilitate the rapid info of ad hoc work groups -promote effective response to a crisis Trusting situation: A. Probity: focuses on honesty and integrity, for professional understanding and reputation B. equity: fair mindedness, benevolence, caring, values, and sincerity as evidence C. Reliability: firm having the required expertise to perform its business effectively†¦show more content†¦Insurance company may not make a profit or service for one or more years into the lifetime of the contract. -upfront supply of equipment: equipment and supply hired for long term where is written in a lifetime contract (cust retention) -advertising and other communication expenditure: cost for adv to promote and create brand awareness (cust acquisition) High front end cost industry: perusahaan yang butuh buat kluarin biaya acquisition front end cost buat mencapai cust retention. Contohnya prusahaan kartu kredit, harus kluar biaya data collection terus buat dapetin data calon pemegang kartu kredit, harus lluar duit buat sewa saleerson terus buat jadi calo kartu kredit, harus meluar baya komisi buat sales terus, Low front end cost industry: perusahaan yg gak kluar banyak biaya acquisition font end cost buat mencapai cust retention. Contoh perusahaan fmcg, gak butuh kluarin biaya buat ngumpulin data ttg cust atau sales, mreka gak pake sales. Mreka cuma butuh biaya advertisinga buat promossin produk mreka, dan supaya orang tau ttg produk mreka. Service paradox: paradoxical effect where a product failure ultimately results in increased customer satisfaction, producing a level of satisfaction even greater than that expected with no product failure. an effective service recovery plan, companies can improve satisfaction, increase loyalty, and build a positive, lastingShow MoreRelatedMarketing : Marketing And Relationship Marketing Essay1359 Words   |  6 PagesIntegrating Marketing With the shift in the external marketing environments, Apple has also shifted its marketing strategy. 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As a practice, relationship marketing differs from other forms of marketing in that it recognizesRead MoreRelationship Between Marketing And Marketing995 Words   |  4 Pagestheir child. The relationship that was formed by the school and the potential student was driven by market demands. Their work points out the strain caused by the market pressures of consumers which may alter the quality of the education and the mission of the school. Theoretical Framework The emergent literature is grounded in a theoretical framework that uses Relationship Marketing as a prime contributor to research. According to Al-Hamed, Amin, (2014) relationship marketing is â€Å"a philosophyRead MoreRelationship Marketing And Traditional Marketing854 Words   |  4 Pagesrelated to a services marketing issue. One is titled â€Å"Relationship VS. Traditional Marketing† by Murad Ali and the other one is â€Å"Relationship Marketing† posted by Margaret Rouse. In â€Å"Relationship VS. 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Besides its main goal of retaining customers and encouraging repeats, relationship marketing also creates valueRead MoreRelationship Marketing Ryanair3134 Words   |  13 Pagescontact with airline operator, airports need transparency and stability involved Ryanair, in the face of severe rivalry from other airports in mainland Europe by submission them a financial package comprising summary landing and handling charge, marketing of the airlines services, office space, pilot place, in addition to payment for employment and education. The issue was therefore one of clearness with the financial incentive seen as a twist of the air transport market. It would come out to be thatRead MoreRelationship Marketing Essay2276 Words   |  10 PagesRelationship marketing has become a dominant form of marketing theory in recent times. It has evolved from other forms of marketing and has countless benefits for businesses that use the relationship strategy. It is limitless in the type of business es it can be adopted by with new technology and media making it even more popular. The study of marketing is one that has been fixed on an evolving range of marketing segments over the last fifty years or so. A look at the progress of the changing focusRead MoreRelationship Between Marketing And Consumer Marketing1964 Words   |  8 Pagesfrom companies than just products, they want an experience† (Fitzgerald,20015). relationship marketing maximizes value and drives profits. Customer relationship marketing is viewing the customer as the most important aspect of the company. In order to successfully keep a good relationship with existing customers, the company must try different techniques to keep the customer loyal. The essence of relationship marketing is a personal or emotional connection to a brand.   This connection is centeredRead MoreFrom Marketing Mix to Relationship Marketing3920 Words   |  16 PagesFrom Marketing Mix to Relationship Marketing Towards a paradigm shift in marketing Prepared by: Mai Hamed Shady Marzouk Presented to: Dr. Mariam Abo youssef Table of Contents Introduction 3 Marketing Mix 4 The problem with the Marketing Mix 7 The Nature of the Marketing Mix 8 What is the History of the Marketing Mix? 9 Contemporary Theories of Marketing 11 The New Approaches and the Marketing Mix 12 The Future: The Relationship Marketing Concept 13 Relationship Marketing