Relationship Marketing in a Global Context

The interests of clients can only be guaranteed if their behavior is studied. Basic Tenants of Relationship Marketing Consumer behavior is relevant to relationship marketing. Therefore, relationship marketing may entail customer retention, where an assortment of strategies is employed to ensure that consumers become loyal to a product or service even after they have made the first purchase (Aiello, 2014). Besides, the concept may focus on building networks, such that mutual benefit can exist between the buyer and the seller. However, mutual benefit should come only after the interests of the customers has been catered for. Whereas many authors believe that a much more symbiotic relationship can exist between the buyer and the seller, Aksoy, Keiningham, & Bejou, (2014) acknowledge the significance of the latter in jump-starting the process, through the sharing of general knowledge.

From a theoretical approach, Beck, Chapman, & Palmatier, (2015) explore relationship marketing from the lenses of internal marketing. They believe that firms need to establish a wholesome approach that is geared towards influencing the behaviors of their customers. In large organizations, it is difficult for the existence of direct contact between customers and buyers, and hence the emergence of middle men (Beck, Chapman, & Palmatier, 2015). The authors therefore acknowledge the existing challenges, where middlemen may seldom propagate the interests of the sellers, who understand the product much more. They consider the concept of total quality management(TQM), where the value chain can be enhanced between buyers and sellers even in an environment of complex marketing regimes. They say that so long as there exists a robust relationship among all members of the marketing infrastructure, it is possible for an emotional attachment to exist.

TQM in this regard plays a central role in ensuring that large firms can still create robust linkages between them and their customers (MacInnis, Park, & Priester, 2014). In Gummerus, Koskull, & Kowalkowski, (2017) arguments, relationship marketing within a global context can be instigated through the use of digital technology. They say that the selling approach utilized can communicate a certain message to the end buyer, without the seller necessarily having to be directly involved. On the converse, they assert that retaining the existing ones is much better. Accordingly, it is less expensive to retain the existing suppliers than seeking for new ones. In this regard, the authors reiterate that in an environment of intense competition, organizations often have an opportunity to use relationship marketing as an appropriate tool to retain the most loyal customers.

Therefore, a focus on existing customers would cause firms to adhere to new technologies so as to supply customer expectations, which are often changing. Fundamentally the authors ascertain that relationship marketing should focus on enhancing much more collaboration between customers and buyers, and this can ensure that producers keep track of the dynamic expectations. The theory postulates that when third parties are involved in a transaction, there is often a tendency for problems to exist (Gbadamosi, Bathgate, & Nwankwo, 2013). In this regard, the theory focused on resolving such problems. problems may exist due to goals that have not been aligned appropriately, and the question of risk averse. The authors are emphatic that the genuine seller of the product may not be aware of what the agent is doing on the ground, and which can affect the relationship with direct consumers.

As a consequence of lack of information between the seller and the agent, contrasting interest such as issues of expansion may be envisaged. In the process, a lessee as an agent may be procured to manage the assets. In the final end, the lessee may not be as much interested in safeguarding the wealth of the shareholders as is the case with the bank. Accordingly, therefore, the relation between the bank and the shareholder can be affected as a consequence of the lessee having to safeguard his own interests. Apparently, the same issue can be compared to the complex interests that emerge when a direct consumer of goods and services is forced to suffer high losses when the middleman imposes his own pricing regimes (Hennig-Thurau & Hansen, 2013).

From the relationship marketing approach, Hennig-Thurau & Hansen, (2013) suggest that that a seller who is not keen to understand consumer behavior can lose consumers to competitors as a consequence of the action of an agent, who fails to act in goodwill and in accordance to the agreement between him and the principle. Spotts, (2015), in making an analysis of the power dependency theory, posits that individuals within an enterprise have different capabilities to influence transactional decisions. Sellers have the power to provide goods and services that are needed by buyers (Spotts, 2015). On the converse, the buyers have the money. The author is categorical that the dependency theory of power has the ability to influence resistant buyers to become loyal to a brand. Therefore, a seller, who has the ability to influence the behavior of a resistant buyer, can gain much revenue through the application of the theory.

As theoretical perspectives posit, there is a need to align the interests of all players such that even if there exist no direct relationship between the principle and the consumer, the packaging and quality of the goods and services can communicate an emotional attachment. References Aiello, L. Handbook of research on management of cultural products : e-relationship marketing and accessibility perspectives. Hershey, PA: IGI Global. Aksoy, L. Journal of International Marketing, 23(3), 1-21. Campbell, C. L. The Customer is NOT Always Right? Marketing Orientationsin a Dynamic Business World : Proceedings of the 2011 World Marketing Congress. New York: Cham Springer International Publishing. v. , & Kowalkowski, C. Guest editorial: relationship marketing – past, present and future". Journal of Services Marketing, 31(1), 1-8. Hennig-Thurau, T. , & Priester, J. W. Handbook of Brand Relationships.