The document discusses relationship marketing and how it differs from traditional transactional marketing. Relationship marketing focuses on developing long-term partnerships with customers and other stakeholders rather than single transactions. It emphasizes customer retention over acquisition and relies on cross-functional teams rather than departments. Relationship marketing also takes a more customized approach to the traditional 4Ps of marketing by collaborating with customers on products, negotiating prices, offering various fulfillment options, and using integrated communications. Overall, relationship marketing aims to develop continuous relationships through superior service, communication, and adding value for customers.

2. Plan:
1)The essence of marketing
2) Main characteristics of relationship
marketing
3) Relationship Marketing and the 4Ps
4)Comparison between TM and RM

3. • marks a
significant paradigm shift in
marketing, a movement
from thinking solely in terms
of competition and conflict
toward thinking in terms of
mutual interdependence
and cooperation.

4. Importance of different
parties

5. Main characteristics of
relationship marketing
• It focuses on partners and customers rather than on the
company’s products.
• It puts more emphasis on customer retention and growth
than on customer acquisition.
• It relies on cross-functional teams rather than on
departmental-level work.
• It relies more on listening and learning than on talking.

7. Relationship Marketing
and the 4Ps
More products are
customized to the
customers’ preferences.
New products
are developed and des
igned cooperatively
with suppliers and
distributors.
The company will set a
price based on the
relationship with the
customer and the bundle
of features and services
ordered by the customer.
In business-to-business
marketing, there is more
negotiation because
products are often
designed for each
customer.

8. Relationship Marketing
and the 4Ps
RM favours more direct
marketing to the
customer, thus reducing
the role of middlemen.
RM favours offering
alternatives to customers
to choose the way they
want to order, pay for,
receive, install, and even
repair the product.
RM favours more individual
communication and dialogue
with customers.
RM favours more integrated
marketing communications to
deliver the same promise and
image to the customer.
RM sets up extranets with large
customers to facilitate
information exchange, joint
planning, ordering, and
payments

10. Comparison
-Transaction based
-Aim is to seek new
customers
-Focus on single sale
-Discontinuous customer
contact
-Importance of product
benefits
-Short time scale
-Less emphasis on service
-Quality is the concern of
production
-Persuasive communication
-Focus on customer
Relation
-Continuous customer
contact
-Importance of customer
benefits
-Longer time scale
-High customer service
-Quality is the concern of all
-Regular communication

12. Relationship is
developed by:
• Satisfying customers
• Adding value
• Privileges
• Customer orientation
• Use of database
• Two-way communications
• Quality products
• Loyalty schemes-enhanced knowledge of
customers ; allows for highly targeted promotion