Relationship marketing: exploring relational strategies in marketing PDF
Preview Relationship marketing: exploring relational strategies in marketing
Fourth Relationship Marketing comprehensively examines relationships in marketing and how Edition Relationship MaRketing these influence modern marketing strategy and practice, by critically reviewing and analysing what has been described as ‘marketing’s new paradigm’. R Exploring relational strategies in marketing Established as the key text in the area, the fourth edition continues to offer an accessible and authoritative e introduction to this increasingly important subject. It retains its informed coverage of the most recent and l important literature, as well as clearly organising and structuring the book around its core themes. The new John Egan a edition includes a wide range of examples to illuminate the real world relevance of concepts. In addition, overviews and summaries add clarity and help consolidate understanding. t i Fourth Edition o new to this edition n • Broadened scope to include more on the management of relationships in different contexts s e.g. B2B, CRM h • New material on the role of social media in relationship marketing and the nature of how this is changing relationships between organisations and stakeholders i • A review and critique of theoretical developments including service-dominant logic p • Extended coverage of social marketing and how relationship marketing can be used to develop positivist social behaviour for public, private and not-for-profit organisations M • New cases studies on Mumsnet, Royal & Sun Alliance and social networks • More on brand/consumer relationships and brand communities a R A complete package of supplements is available to assist students and instructors in using this k book. Visit www.pearsoned.co.uk/egan to find an Instructor’s Manual, PowerPoint slides, and links e to other useful sites. t i n This book is ideal for undergraduates and postgraduates taking modules in Relationship Marketing, Customer g Services, and Marketing Communications. It is core reading for the CIM Level 4 module on ‘Stakeholder Marketing’. about the author John Egan is Director of Marketing & Communications and Marketing Subject Group Leader at London South E Bank University and a Chartered Marketer. He has almost three decades of experience working in the retail g marketing sector with companies such as Bloomingdales (New York), Hudson Bay Company (Canada), Harrods a (UK), Chinacraft, Mappin & Webb and Garrard (the Crown Jewellers). He is a fellow of the Royal Society of Arts n and Commerce, a member of the Chartered Institute of Marketing (CIM), on the Educator’s Council of the Institute of Direct Marketing and Executive member of the Academy of Marketing. www.pearson-books.com Cover image © iStockphoto Relationship marketing Visit the Relationship Marketing, fourth editionCompanion Website at www.pearsoned.co.uk/eganto find valuable studentlearning material including ■ An online glossary to explain key terms ■ Annotated links to relevant sites on the web We work with leading authors to develop the strongest educational materials in marketing, bringing cutting-edge thinking and best learning practice to a global market. Under a range of well-known imprints, including Prentice Hall, we craft high quality print and electronic publications which help readers to understand and apply their content, whether studying or at work. To find out more about the complete range of our publishing, please visit us on the World Wide Web at: www.pearsoned.co.uk Relationship marketing Exploring relational strategies in marketing FOURTH EDITION JOHN EGAN London South Bank University Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world Visit us on the World Wide Web at: www.pearsoned.co.uk First published2001 Second edition published 2004 Third edition published 2008 Fourth edition published 2011 © Pearson Education Limited 2011 The right of John Egan to be identified as author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without either the prior written permission of the publisher or a licence permitting restricted copying in the United Kingdom issued by the Copyright Licensing Agency Ltd, Saffron House, 6–10 Kirby Street, London EC1N 8TS. All trademarks used herein are the property of their respective owners. The use of any trademark in this text does not vest in the author or publisher any trademark ownership rights in such trademarks, nor does the use of such trademarks imply any affiliation with or endorsement of this book by such owners. Pearson Education is not responsible for the content of third party internet sites. ISBN: 978-0-273-73778-0 British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloging-in-Publication Data Egan, John, 1952– Relationship marketing : exploring relational strategies in marketing / John Egan. – 4th ed. p. cm. Includes bibliographical references and index. ISBN 978-0-273-73778-0 (pbk.) 1. Relationship marketing. I. Title. HF5415.55.E34 2011 658.8′12–dc22 2011001765 10 9 8 7 6 5 4 3 2 1 15 14 13 12 11 Typeset in 9/12pt Stone Serif by 35 Printed and bound in Great Britain by Ashford Colour Press Ltd, Gosport, Hampshire For Alison, Tom and Alice Contents Preface xiii Publisher’s acknowledgements xv List of figures xix List of abbreviations xxi Part I Relationships 1 100 years of marketing 3 Key issues 3 Introduction 3 The early days 4 Modern marketing 7 References 11 2 Relationships in marketing 16 Key issues 16 Introduction 16 Relationship marketing 16 Influences on relational strategy development 18 RM development 22 Antecedents of RM 26 The development of RM 28 Towards a definition of RM 32 Summary 39 Discussion questions 39 Case study: What the Willy Wonka of BSkyB knows about customers 40 References 41 Notes 45 viii ■ Contents 3 Relationships 47 Key issues 47 Introduction 47 Relationships 47 Relationship loyalty 56 Constrained relational development 62 Relationships in context 65 Summary 67 Discussion questions 67 Case study: The art of the soft sell 67 References 68 Notes 71 4 Relationship economics 72 Key issues 72 Introduction 72 Relationship economics 72 Customer acquisition 73 Customer retention 74 Acquisition and retention costs 75 Economics of retention strategies 78 Relationship stages 80 Marketing reality 83 Lifetime value 86 Switching costs 86 Relationship longevity 90 Knowing your customer 93 The validity of relationship economics 94 Summary 95 Discussion questions 95 Case study: Get fat on chat 95 References 99 Appendix 101 Notes 102 5 Strategy continuum 103 Key issues 103 Introduction 103 RM in context 103 RM/TM continuum 105 Marketing implications 107 Continuum drivers 108 Contents ■ ix Summary 111 Discussion questions 111 Case study: Understanding and addressing your client’s needs 112 References 114 Note 115 6 Relationship drivers 116 Key issues 116 Introduction 116 Risk, salience and emotion 117 Trust and commitment 119 Perceived need for closeness 126 Customer satisfaction 127 Summary 137 Discussion questions 138 Case study: Find a way into the hearts of customers 138 References 139 Notes 142 Part II The core firm and its relationships 7 Customer partnerships 147 Key issues 147 Introduction 147 Customer focus 147 Services 149 Service industries 150 Customer service 153 Building customer relationships 156 Profit chains 162 Summary 164 Discussion questions 164 Case study: Where customers go to praise (or bash) you 165 References 166 Notes 168 8 Internal partnerships 169 Key issues 169 Introduction 169 Customer–employee interface 170 Theory development 170
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