Week 7 marekting - Relationship Marketing and Ethics

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  • Created by: jf00632
  • Created on: 03-04-19 12:49
What are the principles of relationship marketing? (3)
1. Single interaction, Focus on Product and Price, Buyers are passive 2. Active problem solver seeking solutions, 3. Buyer and seller at the centre, Focus on their relationship , Focus is long term
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What is relationship marketing?Berry, cited by Grönroos 1997
identify, establish, maintain and enhance and, when necessary, terminate relationships with customers and other stakeholders, at a profit so that the objectives of all parties involved are met;
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And how is relationship marketing done?Berry, cited by Grönroos 1997
and this is done by mutual exchange and fulfilment of promises. Building relationships, loyalty crads, good service e.c,t,
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What is retention?
This is the leaky bucket meathod. (refer to notes)
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What do morgan and hunt say about Repeat business?
• “successful relationship marketing requires relationship commitment and trust”
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What do Bhattacharya and Bolton 2000 say about repeat busines?
suggests that the greater the perceived risk, the more likely a customer will engage in relationship type behaviour.(trust and quality)
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What is Ethics?
• ethics is the moral principles and values that govern the action and decision of people
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How does this relate to organisations and marketing?
• Organisations have been highly successful in focusing on customer values and using it as a means of differentiation, to get their repeat patronage and build strong relationships. - ethics links closely to customers attitudes and lifestyle
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Other cards in this set

Card 2

Front

What is relationship marketing?Berry, cited by Grönroos 1997

Back

identify, establish, maintain and enhance and, when necessary, terminate relationships with customers and other stakeholders, at a profit so that the objectives of all parties involved are met;

Card 3

Front

And how is relationship marketing done?Berry, cited by Grönroos 1997

Back

Preview of the front of card 3

Card 4

Front

What is retention?

Back

Preview of the front of card 4

Card 5

Front

What do morgan and hunt say about Repeat business?

Back

Preview of the front of card 5
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