RELATIONSHIP MARKETING AS AN EFFECTIVE STRATEGY GUIDELINES AND A GUARANTEE OF SUCCESS IN THE BUSINESS OF A MODERN COMPANY

Abstract

Starting from the limited management and marketing mix as a dominant previous practice, the emergence of relationship marketing presents distinctive paradigm of marketing evolution, moving towards development of integrated relationship management, with more or less well-known customers. Relationship marketing actually comprises all the marketing activities that are directed towards the establishment, development and maintenance of successful relations of trade. Indeed, traditional concept of marketing (4P + 3P) is becoming less efficient with new conditions of global economy and new competition conditions of cross-linked economy and markets. Therefore, the new concept of relationship marketing between companies, their customers and other stakeholders that are important for the overall marketing efficiency was born. That is a new approach not only to marketing, but also to management generally. Relationship marketing can be considered as an effective strategy leading company in the new millennium. There are two key innovations. The first one only touches the new approach to management and marketing, while the second one significantly goes into the detail about the organizational innovation and new structure of company, which is now not limited only to the marketing function, but affects all the other functions in the company. Relationship marketing presents the activity of harmonization of business strategies, organizational structure and company culture, information about clients and information technologies, with the objective of continuous satisfaction of client’s needs and achievement of business benefits and profits. The new marketing concept is concentrated on understanding of customers in all aspects. Here marketing focus moves from classical instruments and business orientation to customer orientation, value and service dimension, with strong backbone in long term customer relationships. The cycle of the marketing value of products and customers is reflected in the fact that the product value drops over time, while the customer value grows over time.