Article Review: 'Customers' Ways of Making Sense of a Financial Service Relationship Through Intersubjective Mirroring of Others'

7) The significance of the shift from transaction-based marketing to relationship marketing is that firms realize that just attracting customers to buy their products is not quite as important as establishing and maintaining relationships with them so that they will turn into loyal repeat customers. Relationship building begins early in marketing. It starts with what customers want and need, and then developing high-quality products to meet those needs.

3.) Transactional marketing, in the perspective of luring the customer for a one off purchase, focuses strongly on price and short term benefits and product performance, with limited service. Relationship marketing is all about generating repeated sales and customer interactions, thus focusing on bringing value to the customer, and assuring long term performance and service, all aspects of quality become major concerns. Relationship marketing brings customer centricity to the spotlight. This vision has

The relationship marketing has the opportunity to satisfy the buyer as the seller which is the long-term relationship with the customers. This relationship help company to develop more interesting products to attract more attention and more revenue increasing economic opportunities to grow up to another area. For example, give discount coupon for employees of different companies could bring new clients and at the same time every new client could bring their relatives creating a big relationship

Many couples want a successful relationship that is also satisfying. Partners who are satisfied with their interactions tend to be satisfied with other non-romantic relationships (Emmers-Sommer, 514). As a response to ongoing interaction between partners, loving attitudes are formed and are shaped by personality types, and the past and existing relationship interactions (Meeks, Hendrick and Hendrick, ‘98).

Initially in 1974, the salesperson hired by Dominion (Lee Smith) was not only "aggressive and capable and could talk the oil people's language," but was also the only salesperson in the area with his skill set. This gave Dominion an early competitive advantage in Canada, and allowed Smith to establish beneficial relationships with members at all levels of the oil companies. These relationships are beneficial when maintained over the years, because it keeps customer retention high. However, if a company changes salespeople, and the new salesperson does not work to continue the relationship, the customers can be inclined to pursue other options. Lee Smith had built a relationship with Hamilton over the years, but if he were to leave the company, it can be assumed that his replacement would not keep up the relationship. This would cause someone like John Bridges to disregard the impact on Dominion when publishing a study that

Sorce, P. (2002). Relationship marketing: A research monograph of the printing industry center at RIT. New York, USA: Rochester Institute of Technology

This is one of the reasons why there has been a gradual shift towards a relationship-approach. Harker et al. (2006a) quoted the American Marketing Association, to have followed the same approach when it gave the definition of marketing as a business functions and a set of procedure to establish, communicate and provide value to its customers and to manage customers’ relationships in such a way that it is mutually beneficial to all stakeholders. It is now clear however, the shift towards a longer-lasting and more profitable marketing approach from a product-based marketing approach has a better chance of sustainability over longer periods as it is more business-orientated. Relationship Marketing Relationship marketing has been seen during the last decade of the 20th century, as the prevailing thought in developing a marketing scheme both in industrial marketing and consumer marketing (Tseng, 2007) in (Kibeh, 2013). The initial appearance of the phrase ‘relationship marketing’ in the marketing literature was in late 1970s and early 1980s through the research of Dwyer et all (1987) and Berry (1983ab) among

However, Webster points out that "We need models that focus on the market exchanges that are not just on the market exchanges that are the subject of the paradigm” (1992, p.13). To address this need, a paradigm switch was proposed from economics and exchange theory to psychology and intimacy theory. Then Reis and Shaver (1988)’s proposition of “intimacy” had its reflections on relationship marketing and many studies suggested further research on intimacy skills and “individual differences in intimacy needs” of

In the aspect of implementing the relationship marketing strategies, the main character in this aspect is the salesperson who are the best ‘middleman’ to have a clear understanding about the customers through face-to-face communication. However, the salesperson from Olympic Cable does play a strategic role in achieving long-term sales from every established customers. Other than that, the Olympic Cable salesperson secure the continuity of the buyer-seller relationship by improving the buyer’s motivation to continue the relationship with different ways. For example, Olympic Cable salesperson used to provides outstanding services such as updating all the latest information from manufacturer in a timely manner and collecting the feedback from the established customers to the top management in order to figure out a best solution back to the customers.

Earlier there was a sellers market, since goods and services were in short supply and the seller use to call the shots. But, ever since the advent of the era of globalization, there has been total transformation in the way the customer being perceived. Today, marketers are directing their efforts in retaining the customer base. Their focus has shifted towards integrating the three elements people, service and

Due to retailers branded products, the main relationship between manufactures and retailers has changed. Compare with the traditional relationship that the cooperation of suppliers and distributors, the new relationship is complex. The new relationships between manufacturers and retailers are win-win relationship and competition relationship (Ailawadi and Keller, 2004).

To foster such excellent relationships with their customers, businesses must first have well-trained employees that engage with customers cheerfully on a regular basis. The first step is to establish quality leadership that can both guide and empower employees on how to interact with consumers without seeking out corporate for consistent guidance (Bhattacharjee, Moreno, & Ortega, 2016; Chapman, 2015). While determining a vision for employees to follow may be easy, translating what was imagined in the boardroom into real life can pose some challenges for employers (Bhattacharjee et al., 2016). Not everyone?s customer service style is the same, as noted by Dixon, Ponomareff, Turner, & Delisi in their ?global, cross-industry study of 1,440 frontline service representatives? (2017, p. 114). Seven types of personality types were defined in the study, but two were specifically highlighted: the Controller and the Empathizer.

The first computers origintaed for home use were only sold in kit form to technical enthusiasts who did their own assembly. At that time, the firm offering these kits would likely be in the ........... era.

Recently, I have read two pieces of article related to a services marketing issue. One is titled “Relationship VS. Traditional Marketing” by Murad Ali and the other one is “Relationship Marketing” posted by Margaret Rouse. In “Relationship VS. Traditional Marketing”, Murad Ali introduces the definitions of relationship marketing and traditional marketing, displays the differences between them and analyzes the advantages and disadvantages respectively. Murad Ali thinks that it is a good choice to combine the relationship marketing with traditional marketing when companies practice in the real world. The former one can expand the market and attract new customers and the latter one can retrain them as long as possible. (Murad, A., 2007) In “Relationship Marketing”, Margaret Rouse considers that relationship marketing is a kind of strategy whose goal is to make the best use of customers’ behaviors such as the word-of-mouth promotion and collect customers’ information making contributions to building a good image of the company. She makes a contrast between relationship marketing and traditional transaction marketing. Besides, she introduces CRM and marketing automotive software to implement the relationship marketing strategy. (Margaret R., 2014)

Purpose - In a seminal article, Webster argued in 1992 (Journal of Marketing, Vol. 56/October, pp. 1-17) that some changes in concept and practice have fundamentally reshaped the field of marketing. He claims that ‘customer relationships' are now the key strategic resource of a business. Strategic partnerships and networks are replacing simple market-based transactions. The purpose of this paper is to investigate this claim in the context of various relationships maintained by the adidas® group.