Customer Engagement : Transactional vs. Relationship Marketing
This paper is concerned with choosing a best way for customers' engagement, specifically we compare pros and cons of transactional and relationship marketing and provide relevant insights by analysis of data provided by 100 senior-level marketers working on the global market. Firstly, we outline the essence of transactional and relationship marketing by putting them in contrast. Afterwards, we present analysis of the study, results of which clearly indicate the growing role of the relationship marketing. Further on, historic overview of the evolution of marketing is provided so that the reader learns the context. This is followed by the description of the expanded marketing mix, which consists of seven elements - product, price, place, promotion, customer service, processes and people. The process of the proper implementation of relationship marketing strategy is then provided as a guideline for successful relation- ship marketing results. Finally, concrete examples of relationship marketing activities are given to support the theoretical description of relationship marketing. (original abstract)
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