Relationship Marketing in Consumer Markets- an Article Review

ARTICLE REVIEW â€Å"Relationship marketing in consumer markets Rhetoric or reality?† By: OMalley, Lisa; Tynan, Caroline. European Journal of Marketing, 2000, Vol. 34 Issue 7, p797, 19p; (AN 3497728) Synopsis This report is based on the notions of relationship marketing relative to consumer markets This journal article (â€Å"Relationship Marketing in Consumer Markets: Rhetorical or Reality†)- focuses on the different aspects of relationship marketing and its effects on the business to consumer markets. This article addresses notions of relationship marketing such as its definition, stages in the Business Customer Relationships (BCR), Relationship marketing strategy in consumer markets, the four tangible manifestations of RM in Consumer†¦show more content†¦-Popularity – refining to closer business to consumer relationship. (Source obtained from: Week 2 Lecture slide by Kath Attree and also located in (Egan, J, â€Å" Relationship Marketing†, 2004)). Henceforth, O’Malley’s theory of the business to customer model somehow contradicts to that of Adrian Payne’s â€Å"Relationship Ladder of Customer Loyalty† (Payne,A â€Å"Advances in Relationship Marketing†, 1997). Accordingly, â€Å"Kotler’s theory of relationship ladders and stages† (Egan, J, â€Å"Relationship Marketing†, 2004) agrees to that of Payne and not the one used in this journal article. Kotler’s relationship ladder model consists of the identifiable aspects in Payne’s theory as well as a little more. Subsequently, Kotler’s model of relationship stages includes the all aspects of prospects, customers, clients, advocates, members and partners, which are evident in Paynes’ theory. Kotler’s model adds more to this relationship ladder with the aspects of â€Å"suspects† (Egan, J, â€Å" Relationship Marketing†, 2004) - being the very first step of the ladder) and â€Å"first-time customers† which are both located in the â€Å"bottom† (more traditional) area of the ladder. Relationship Marketing Strategies in Consumer Markets O’Malley (2000) states that â€Å"†¦the opportunity to develop BCR is only feasible for high involvement products characterised by inelastic demand, where regular interaction with consumers occur†¦Ã¢â‚¬  In my perspective, I found this statement oversimplifying.Show MoreRelatedLiterature Review-Fdi in Retail1349 Words   |  6 PagesRETAIL MARKETING PROJECT INTERIM REPORT LITERATURE REVIEW AN EMPIRICAL STUDY OF THE GROWTH PROSPECTS AND PROFITABILITY OF FDI IN RETAIL SEGMENTS OF INDIA Submitted to: Prof. Sapna Parashar Date: 23-07-2008 Submitted by: Arnab Sinha 071108 INDEX INDEX 2 CONCEPTUAL ANALYSIS 3 Summary of Retail Market in India and FDI in Indian Retail 3 Read MoreImpact of social media marketing1686 Words   |  7 Pagesto facilitate data, to a platform of public communication through social media. Social media has opened up a plethora of opportunities for businesses to advertise, promote and market themselves to customers. 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