In today’s modern business environment, the development of close and long-term relationships is a strategy which aims at creating competitive advantage and the successful revival of businesses. The scientific field of marketing has created “relationship marketing” which deals with the study of these relationships.
The present essay focuses on analyzing and comparing transactional and relationship marketing. It presents the IMP Group interaction approach which is considered as one of the most prevalent approaches of relationship marketing. The IMP Group approach is analyzed and more specifically its implementation in the purchasing process is studied. IBM is the company that is taken as an implementation example of the IMP Group approach. In IBM’s case study relationship marketing and IMP Group approach are successfully implemented and are in full accordance with the relevant theory.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Relationship Marketing – Definition
- Transactional marketing & Relationship Marketing
- Industrial network approach
- Interaction approach and organizational buying
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
The primary objective of this essay is to analyze and compare transactional and relationship marketing, focusing on the IMP Group interaction approach as a prominent example of relationship marketing. The essay examines the IMP Group approach, its application in the purchasing process, and its implementation in a case study of IBM.
- Definition and comparison of transactional and relationship marketing
- Analysis of the IMP Group interaction approach
- Application of the IMP Group approach in the purchasing process
- Implementation of relationship marketing and the IMP Group approach in the case of IBM
- The influence of external factors on the development of successful networking relationships.
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: This chapter provides an overview of the essay's focus on relationship marketing and its application in a modern business environment. It introduces the comparison of transactional and relationship marketing, highlighting the IMP Group interaction approach and its implementation in the IBM case study.
- Relationship Marketing – Definition: This chapter explores various definitions of relationship marketing, emphasizing its core concept of attracting, maintaining, and enhancing customer relationships for mutual benefit. It highlights the importance of managing company relations and the role of customers as central to business success.
- Transactional marketing & Relationship Marketing: This chapter examines the contrasting paradigms of transactional and relationship marketing, focusing on the long-term, continuous nature of relationship marketing and its implications for organizational strategy. It differentiates the two approaches based on duration, price sensitivity, and the role of internal marketing.
- Industrial network approach: This chapter introduces the industrial network approach as a typical interaction approach, developed by the IMP Group. It emphasizes the importance of continuous relations with customers and suppliers through interaction and highlights the four key variables for successful networking: elements and interaction process, characteristics of parties involved, atmosphere of interaction, and environment of interaction.
- Interaction approach and organizational buying: This chapter delves into the interaction approach in purchasing, considering various limitations and factors influencing strategic choice. It explores aspects of supplier relationships, including portfolio analysis and assessment, and highlights the impact of marketing strategies, economic situations, product life cycles, technology, and organizational structure.
Schlüsselwörter (Keywords)
The essay explores key concepts like relationship marketing, transactional marketing, IMP Group interaction approach, industrial network approach, customer relationship management, organizational buying, and case study analysis of IBM.
Frequently Asked Questions: Transactional vs. Relationship Marketing
What is the main difference between transactional and relationship marketing?
Transactional marketing focuses on individual, short-term sales and single transactions. Relationship marketing aims at long-term customer retention, loyalty, and mutual benefit over time.
What is the IMP Group interaction approach?
Developed by the Industrial Marketing and Purchasing Group, this approach views marketing as a complex interaction within industrial networks, focusing on relationships between buyers and sellers rather than just the marketing mix.
How does IBM implement relationship marketing?
IBM uses the interaction approach to build deep partnerships with its clients, focusing on customized solutions and continuous support rather than just selling hardware or software.
What are the four key variables in the interaction model?
The model considers: 1. The interaction process, 2. The characteristics of the parties involved, 3. The atmosphere of the interaction, and 4. The surrounding environment.
Why is internal marketing important for relationship marketing?
Internal marketing ensures that employees understand and support the company's relationship goals, as they are the ones interacting with customers and delivering the promised value.
- Arbeit zitieren
- Fotini Mastroianni (Autor:in), 2013, Analyzing and comparing transactional and relationship marketing. Interaction approach and organizational buying, München, GRIN Verlag, https://www.grin.com/document/359501
