New Developments in Relationship Marketing

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New Developments in Relationship Marketing

• Prof. dr. Zlatko Jancic
• BledCom, Slovenia, 5 July 2008

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Background

• Discontinuous changes in all environments
• Troubles in the marketing tool-box
• Lost seat at the table
• Re-conceptualization needed
• A second marketing revolution?

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Development of RM

• Outcome of service and inter-organizational
  marketing development
• A critics of conquistador marketing
• A philosophy of long-term relationship building!
• Most promising is the search for theoretical
  bases in social exchange theory

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Shizo-marketing

• A paradigm shift?
• RM as a continuum or the antagonism?
• Management or co-management?
• CRM or friendship?
• In practice The shizophrenic mixture of
  transactional and relationship marketing.
• Are we fortelling the premature death of
  relationship marketing (Fournier et al 1998)?

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Stakeholder Marketing

• Marketing must transcend its orientation to
  customers and become stakeholder and thus
  corporate oriented, since customers shop with a
  knowledge of what a company does as a corporate
  entity and not just how good its products are.

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Holistic Marketing

• Holistic marketing is a process of establishing
  the marketing relationships with the internal
  environment, relevant external stakeholders and
  with the social and natural environment (Jancic,
  1993).
• A similar re-definition of a marketing concept is
  also proposed by Kotler Keller (2005, 2006).

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Other developments 1

• The embedded marketing
• Firat and Dholakia (2006) base it on the concept
  of embeddedness (Granovetter 1985)
• The products should be the result of mutual
  construction and not the result of one-sided
  action. They should be co-created, co-produced
  and co-marketed.
• Radical proposition since it implies the fading
  of boundaries between the company and society.

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Other developments 2

• Marketing with a mission
• The true mission of marketing should be the
  enrichment of quality of life in the society.
• Such marketing can contribute to society a great
  deal for its knowledge about the creation of
  value is indispensable. Firms that add to,
  rather than subtract from the quality of life,
  are more likely to enjoy customer loyalty,
  stakeholders trust, regulatory freedom, and high
  employee morale and productivity (Berry and
  Mirahito (2006, 296).

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Other developments 3

• Corporate organizational marketing
• A movement in the UK (Balmer, Powell, Greyser,
  etc.). Developed from the studies of corporate
  branding, corporate image, identity and
  reputation,.
• Corporation cannot hide itself behind the product
  or service brands, it becomes a marketing entity
  that needs to perform reciprocal exchange
  relationships with the total environment.
• Corporate strategic marketing (Parvinen, Tikkanen
  Aspara, 2007) paramount in creating shareholders
  value, as well as in creating value to customers
  and welfare to society.

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• Thank you!