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Contemporary Issue In Marketing - Essay Example
Pages 6 (1506 words)
Contemporary Issue in Marketing Introduction In this competitive environment, organizations are seen to give huge importance to maintaining relationship with the customers, dealers, distributors, suppliers and employees. The modern organizations have understood how the maintenance of relationship can be profitable and beneficial to them in long run…
This report mainly focuses on relationship marketing, its importance in the modern business scenario and connection of relationship with technological innovation and discussion regarding the Integrated Marketing Communication (IMC). Lastly, a conclusion and recommendation is made regarding the close connectivity between these three aspects. Relational marketing In the last few decades, the marketing theories have experienced a colossal shift in both theories and practices of marketing. Relationship marketing is a developing network paradigm that recognises that global competition occurs between networks of organizations. In the context of relationship marketing, Morgan and Hunt (1994) have suggested the Commitment and Trust Theory that involves all types of relational exchanges. The researchers have argued that the central concept of relationship marketing rotates around those that distinguish an effective and productive relational exchange from those that are ineffective and unproductive. There are several factors that contribute towards the success or failure of relationship marketing effort. These scholars have stressed on trust and commitment that makes significant contribution. ...
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