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Relationship Marketing: Theorethical Aspects
Published 2006 · Economics
In recent years relationship marketing has found its place in the practice of modern production and service business. In Lithuania this concept is yet in the first stages of its development. The article focuses on the concept of relationship marketing and its development within the context of various marketing theories. The main principles of application and methods of relationship marketing are analyzed. The key assumptions for using relationship marketing as well as factors of influence are disclosed. The article also examines the specifics of relationship marketing in the service sector, evaluates opportunities for adapting well-known forms and methods of relationship marketing in this field. The authors conclude that maintaining relationships and partnerships between countries helps in formulating company competency and competitive advantages. Actively used relationship marketing increases the value of a company’s offerings in the modern market. Based on the finding of recent empirical research the authors claim that relationship marketing for service sector firms is a way of formulating competitive advantages that are important and difficult to replicate.