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Competitive strategy and value creation in relationship marketing

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  1. Abstract
  2. Introduction
  3. Definitions
  4. The relational spectrum
  5. Relationship strategy case study
  6. The relationship life-cycle
  7. Relationship strategy requirements
  8. The relationship chain
  9. Conclusion
  10. References

This paper considers how relationship marketing can be utilized in corporate strategy to facilitate value creation and increased customer satisfaction. The meaning of relationship marketing and the purpose of various relational frameworks such as the ?relational spectrum', the ?relationship life-cycle and the ?relationship chain' are analyzed and in some cases critiqued. A fictional case study illustrates how the buying behavior of customers must be considered when selecting the most appropriate marketing strategy.

[...] (Kothandaraman & Wilson, 2000) The idea that relationship strategy should be viewed as a whole business model is supported by Porters (1985) Value Chain theory which recognized the importance of viewing all business processes as a sequence of events that create and add value. (Porter, M. 1985) Porter submits that organizations with strong interrelationships developed between business units (functions) can contribute to the firms' competitive advantage through a horizontal and cross functional corporate strategy. ?Without horizontal strategy, business units may well act in ways that reduce rather than enhance their ability to exploit interrelationships.? (Porter Pg 366) The Relationship Chain The ?Relationship Chain', which builds upon Michael Porters framework, suggests how added-value can be enhanced, with less cost, through process re-engineering. [...]

[...] (Why relationship marketing should continue after the shop has shut.) A logical next step would be to suggest a framework of possible withdrawal strategies. Key References Brennan, R et al. Contemporary Strategic Marketing (2003) Palgrave Macmillan. Hampshire Bund-Jackson, Barbara. Build Customer Relationships That Last. (November/December 1985) Harvard Business Review. 120-128 Full article re-published by: Payne, A et al. Relationship Marketing for Competitive Advantage: Winning and Keeping Customers. (1995) Butterworth- Heinemann Ltd. Oxford. Cassar, Sandro. In search of the common good: Understanding customers' feelings through CRM and building better customer-employee relationships. [...]

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