future of relationship marketing
The future of relationship marketing Energy crisis Three antecedents were responsible for the popularity of relationship marketing in the late 1980s and early 1990s. ... It became necessary to defensively focus on retaining customers and defocus customer acquisition related marketing expenditures and activities. ... Emergence of services marketing At the same time, services marketing was emerging as a popular new domain of research and understanding. ... Lenard Berry was the first scholar in services marketing to coin the phrase ``relationship marketing’’ as early as 1983 (Berry, 1983). ... ) and we have a direct record of transactions over time with each individual customer, enabling researchers to analyze and theorize about customer loyalty and one-to-one marketing (Peppers and Rogers, 1993). Supplier partnering Finally, in business to business marketing, most companies began to institute key account, national account and global account management processes and programs to consolidate and increase share of each account’s business to fewer suppliers preferably resulting in a sole source relationship. ... The emergence of IMP Group (Hakansson, 1982) in Europe with a focus on interaction as opposed to transactions provided another impetus toward business-to-business relationship marketing.