Relationship Marketing: The Difference Between RM And Traditional Marketing

'Place ' is concerned with various methods of transporting and storing goods, and then making them available for the customer. Getting the right product to the right place at the right time involves the distribution system. The choice of distribution method will depend on a variety of circumstances. It will be more convenient for some manufacturers to sell to wholesalers who then sell to retailers, while others will prefer to sell directly to retailers or customers.

For an intangible product, place is less clear-cut, but refers to decisions about the channels through which consumers are reached with information or training. This may include doctors' offices, shopping malls, mass media vehicles or in-home demonstrations. Another element of place is deciding how to ensure accessibility of the offering and quality of the service delivery. By determining the activities and habits of the target audience, as well as their experience and satisfaction with the existing delivery system, researchers can pinpoint the most ideal means of distribution for the offering.

On the other hand, S K Das in the year 2012 contradicts this study and observes that relationship marketing is a progressing trend in today’s time but due certain reasons and hesitations like financial problems, danger of failure, marketing inertia, etc., many banks in today’s world are still following and implementing

The marketplace is not what it used to be. It is radically changing as a result of major societal forces such as technological advances, globalization, and deregulation. These major forces have created new behaviors and challenges.  Customers increasingly expect higher quality and service and some customization. They perceive fewer real product differences and show less brand loyalty. They can obtain extensive product information from the Internet and other sources, which permit them to shop more intelligently. Marketers are responding to these challenges through customer relationship marketing.

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

Marketing is the term where companies create their products or services awareness into the market. This goes ahead with identifying the customer’s needs and then working on purpose. The customers found to be in the centre of the whole process as they help in profit making. Marketing techniques can be defined in to different strategies which are:

The price comes from how much the product should sell for. In considering prices, the organization should consider the "product, customers, competitiveness, and quality."(Purdue, 2007)

Building a relationship with pervious customers or new customers, would make the marketing process much easier. If a company already have a good standing with a customer, then it would be easier for the company to market a new product to that customer. A healthy relationship with a pervious customer can also bring new customers for the simple fact of word of mouth communication. If a pervious company is happy with the company that means that customer will tell their friends about the company and bring business to the

Relationship marketing is very different compared to transactional marketing. Essentially, transactional marketing focuses on getting the customer to buy a certain product and walk away, whilst relationship marketing sees the sale as the first step in the building of a relationship (which is what apple thrives to do).

5. RELATIONSHIP MARKETING: In this competitive era, companies are always looking for ways to develop and maintain a long lasting relationship with customers, employees and even suppliers. Relationship marketing is two way traffic; it goes beyond just making ‘sales’ and companies are beginning to realize. Good relationship with customers is a strategic weapon for any company, this is because long term customers buy more, do referrals and give back valuable and truthful feedback. Keeping a customer requires an extra effort. According to the founder of Walmart: “There is only one boss, the customer, and he can fire

There are lot of definitions of what marketing is, one definition is preferred by the United Kingdom Chartered Institute of Marketing (CIM), while the another definition is preferred by the American Marketing Association (AMA). The United Kingdom definition consists of marketing being the managing process responsible for identifying, anticipating and satisfying customers’ requirements profitably. The American definition consists of marketing being the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create, exchange and satisfy individual and organisational objectives. Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably, (CIM) for example Tesco clubcard, will allow customers to save points until Christmas, where they will be to earn a bonus, so they can purchase extra items. Gronroos (1997) states that relationship marketing is described by a network of communications and contacts between the buyer and seller and a series of exchange over time. Both parties have to be satisfied with the relationship and achieve their respective objectives from it. Tesco build a relationship with customers by getting market research to improve products and services also Tesco understand the power of social media sites and has active profiles set up on all social sites. (Tesco 2014) (Brassington & Pettitt (1997).

In general terms, marketing is all related to the places of buying and selling of goods and services to satisfy customers’ needs. Nowadays marketing is the most important issues for success of every business marketing is the activity, set of institution, and process for creating, communicating, delivering, and

Relationship marketing is instigated through customer relationship management. Relationship management depends on various concepts such as knowledge of the market and the customer, integrating data from many sources into one set of shared data, using information technology and creating customers profiles to improve marketing decisions. The strong relationship between marketing research and marketing decision making is evident in the marketing planning process, the success of

Place – Place is also very important in the terms of business because before opening the business they should consider the location properly that are they targeting the proper market according to their business. Place must be easy accessible for customers, suppliers etc.