For MBA Students

2. Relationship Marketing Philip Kotler The process of creating, maintaining and enhancing value-laden relationship with valued customers, distributors, dealers and suppliers by promising and consistently delivering high quality products, good services and fair prices". Marketing is shifting from trying to maximize the profit on individual transactions rather than to building mutually beneficial relationship with consumers and other parties.

5. Relationship Marketing Vs Transactional Marketing Basis Relationship Mkt. Transactional Mkt. Time Short term focus Long term focus Price sensitivity Customers are more sensitive to price Customers tends to be less sensitive to price Role of marketing function Appropriate marketing mix programme Interactive marketing Measuring of customer satisfaction Monitoring market share Managing the customer Customer related service Little emphasis on customer related service Strong emphasis on customer related service Quality dimension Quality is the sole responsibility of production Quality is concern for every one