Relationship Marketing Essay

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Holistic Relationship Marketing

Relationship Marketing

Relationship marketing is one of the fastest growing research topics in business and marketing today. The premise of relationship marketing is very broad and includes or should include external and internal relationship building as a reciprocal factor for firm success. Successful relationship marketing, according to the literature, results in high productivity, high employee and customer satisfaction, low employee and customer attrition and ultimately high profitability and success. According to businessdictionary.com relationship marketing is defined as: Marketing activities that are aimed at developing and managing trusting and long-term relationships with larger customers. In relationship marketing, customer profile, buying patterns, and history of contacts are maintained in a sales database, and an account executive is assigned to one or more major customers to fulfill their needs and maintain the relationship (n.d.) Yet, fundamentally, this definition of relationship marketing (RM) demonstrates only one aspect of its purpose, which is ultimately for the firm to develop both internal (employee) and external (customer) relationships by building and maintaining professional and possibly even personal relationships with all members of the firm community. The defining desire of relationship marketing is to make each participating member, be it a large or even in some cases small customers, firm employees and even suppliers all feel as if they are valued and respected.

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The goal of relationship marketing being to make each feel important to the firm and supported in whatever way possible. This work will discuss RM in these terms, as both an internal and external tool to support firm success arguing the thesis that relationship marketing is both an external and internal component of success as well as a vital component for successful marketing of firms. To perform this analysis the work will first look at a base of literature that supports either internal or external relationship marketing or both and then use this information to investigate an existing firm which states a mission focused on both internal and external relationship marketing and reports success. The firm analyzed will report factors of success in this process using a holistic relationship marketing mission and will; report high customer and employee satisfaction, low levels of employee and customer attrition, higher productivity and higher profitability as compared to a previous mission structure.

Table of Contents

Executive Summary 2

Table of Contents 3

Introduction 4

Applying Holistic Relationship Marketing Theory 5

Relationship Marketing Theory 5

Relationship Marketing External 7

Relationship Marketing Internal 8

Holistic Relationship Marketing 9

Market and Firm History and Background 10

Historical Mission 11

Implementation of Holistic RM 11

Firm Outcomes Analysis 12

Discussion.....

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