Dynamism in the Marketing Strategy: Transition from Transactional to Relationship Marketing
Keywords:
Marketing Practices, Paradigm shift, Transactional, Relational, Strategy, Conjoint AnalysisAbstract
As the world economy is progressing in faster way, organizations are finding it difficult to survive in this competitive environment. From a competitive standpoint, firms now-a-days are more concerned in retaining customers rather than making one time sale. The changing role of marketing in the organizations has indicated an extended continuum of marketing relationships which emerged as a new paradigm of the marketing functions along with transactional marketing.
To profile marketing practices, the conceptual framework comprising all of the possible strategies for an effective buyer-seller exchange to derive specific measures of marketing practices has been developed to examine the extent of transactional and relationship marketing practices in different contexts. The present research work examines the relative importance attached to different levels of four marketing strategies in order to optimize the marketing performance of a firm in the specific sector as a case. The estimation of the relative importance of the four distinct marketing aspects and also the relative importance of the different levels of different aspects is done through Conjoint Analysis.
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