Services Relationship Marketing/Module 9

Week 9/Module 9
Relational exchange is the building of these relationships between organizations and customers. The alternative would be transactional exchange, where the customer makes the purchase and the interaction between the two is complete. There are many ways an organization can attempt to build a relationship with customers (think or your own loyalty card membership list, organizations who text and email you, etc.).

It will be important for you to ensure you understand the difference between relational and transactional interactions. Developing a relationship will allow the business to “get to know” customers on a more personal level, which will allow them to specifically target those customers based on the relationship developed between the two. Examples might include emails sent to customers on their birthdays with special offers or follow-up surveys on past purchases to see how the product preformed. A transactional relationship would end after the purchase is made; there would be no further contact between the two, and no continued relationship is developed.

We will discuss further benefits of relational exchange and transactions, and will find numerous benefits for businesses who are able to develop these continued relationships with their customers.

TOPIC
Relationship Management

Weekly Objective
Learning Goals: LO1, LO2

Activity/Scaffolding
Chapter 3: Customer Relationship Management

Chapter 7: Authority-Establishing Organizational Relationships

Why Relationship Marketing is Important for Business Video

Activity/Deliverable
Group Project work/ Mystery Shop completion