Strategic Marketing in Uncertainty Essay Example | Topics and Well Written Essays - 2000 words

Strategic Marketing in dubiousness - Essay ExampleThe modern admission to trade activities is changing its emphasis from the traditional selling incorporate (product, price, place, and promotion) to the conception of relationship marketing. The practicability and flexibility of the relationship marketing approach have led to the quick evolution of this concept in the modern marketing activities. Veloutsou et al. (2002, p433) also assert that, it is currently acknowledged that RM represents a paradigm shift in marketing.Relationship marketing approach emphasises on coarsely full relationships between the organisation and the some other members of the environment so as to create long-term ties among these groups. Gronroos (1994, p355) posits that relationship marketing is to establish, maintain, and enhance relationships with customers and other disruptners, at a profit, so that the objectives of the parties involved are met. This is achieved by a mutual exchange and fulfilme nt of promises. Hence, relationship marketing focuses on fostering the mutual relationship of an organisation with its customers, suppliers and other firms in order to meet the objectives of all the parties as they enter into an exchange with the company.In the modern dynamical environment, companies are no longer seen as indifferent from the influence of other parties in the market viz., the customers, suppliers, competitors etc sort of the modern companies need to interact with all these parties in order to maintain long-term relationship chemical chain that is bound to satisfy all of them. This is what was found to be lacking in the traditional approach of the marketing mixing. Andersen (2001, p167) illuminates that, marketing practitioners and scholars are abandoning the marketing mix approach as it does not justify the complex interaction and information exchange processes between organizational buyers and sellers. In the simplest form, relationship marketing has gained po pularity as a post-modern approach to marketing over the traditional concept of 4Ps because of its ability to rationalise the existing interaction and relationship of a company with other members of the environment.The fact that makes relationship marketing more helpful for marketers is the approach of creating a tie between the seller and the buyers. Not only the seller but also the buyers take wide awake part in fostering this relationship with each other. Company nurtures this association by satisfying consumers every time, musical composition the buyers enhance this relationship by making repeated purchases. On the other hand, the traditional marketing mix relies on the sellers part to conduct marketing activities. Gronroos (1997, p327) emphasises this point as that, the marketing mix makes the seller the active part and the buyer and consumer passive. No personalized relationship with the producer and marketer of a product is supposititious to exist, other than with profess ional sales representatives Another important aspect of relationship marketing paradigm is that it is compromising enough to be beneficial for the company in all conditions prevailing in the