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Essay / Research Paper Abstract
This 12 page paper considers why relationship marketing is in vogue in fashion and critically analyse how the marketer can prevent the demise of relationship marketing in the future as well as evaluating how to sustain the credibility of relationship marketing for the customer, The bibliography cites 18 sources.
Page Count:
12 pages (~225 words per page)
File: TS14_TErelmarkt.rtf
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Unformatted sample text from the term paper:
on many prices and companies need to maximise their use of resources. One strategy that is popular at the moment is that of relationship marketing. However like any other fad
there is the danger of the concept being left behind when a new fashion or trend emerges. In this paper we will consider why and how marketers may which to
retain relationship marketing and how this may be achieved. Payne (1995) sees relationship marketing as a potential source of competitive advantage as
is transforms a prospect into customer, if the customer remains satisfied their level of commitment to the company can increase with the customer becoming a client then a supporter
then an advocate and eventually possibly a partner. During the stages between prospect and client there is the emphasis placed on gained the customer, at the later stages the emphasis
shifts to the development or enhancing of the relationship. This can be imagined as a ladder with those practicing relationship marketing climbing closer to the top. This is currently popular,
but in examining this we can look at why the potential is so great and how it may be retained. Relationship marketing helps the company maximise the marketing budget
by developing loyalty within the customer base and increasing the sales to this market as well as extending the life of a customer.
There are many examples of companies that are successfully using relationship marketing. General Motors have specified that they will be giving a great proportion of their budget to
relationship marketing and moving it away form the traditional branding exercises (Cantwell, 2003). GM is not alone, many companies are undertaking the use of relationship marketing as a strategic marketing
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