Abstract

The importance of Relationship Marketing (RM) to the success of corporations today cannot be denied. Many businesses, however, have not placed enough emphases on measuring the impact of customer relationships and taking into account the importance of customer service in the post-Recession world. The impact of instant social media reviews on business can be substantial. The rising popularity of websites like Yelp have given the post-Recession consumer, suspicious in general of banks and businesses, the power of an instant and widespread way to vocalize their feelings and opinions to other potential customers. Since customers can instantly share positive as well as negative reviews with other customers, businesses must carefully guard their reputation and image. To take a closer look at the future implications of relationship marketing, we will present and discuss the current literature. Additionally, we will examine a company that has a successful relationship marketing program, Apple. We will highlight how Apple has created effective customer service training to enhance the customer’s experience. Apple’s success in using positive word of mouth advertising instead of large, expensive advertising campaigns will also be explored. Key characteristics of Apple’s achievement in relationship marketing will be highlighted. How few businesses seem to have a standardized process for establishing and implementing relationship marketing will be presented and analyzed. We will also review the power of relationship marketing in today’s modern social media world and present reasons companies should seriously address relationship marketing. The need for businesses to measure RM in order to fully understand operational successes, failures, and impacts will be explored. To demonstrate one method for measuring RM, we will also perform a Delphi measurement to show standardized reflections of relationship marketing. The steps used and questions asked in the research method will be presented. Finally, the research findings are summarized and analyzed. Implications for reviewing and standardizing RM practices are presented.

pdf

Additional Information

ISSN
1548-2278
Print ISSN
0022-037X
Pages
pp. 261-268
Launched on MUSE
2017-11-17
Open Access
No
Back To Top

This website uses cookies to ensure you get the best experience on our website. Without cookies your experience may not be seamless.