MST (HR) 551 – Relations in business

Lecture 1
2016

Shoolini School of Business Management

CONCEPT

• Business communities have been relying upon relationships for business

growth.
• Successful business fraternity have been very successful because they are
smart enough to sustain relationships.
• Therefore, relationships in general and with customers in particular have
always been a key for growth of business.
TYPES OF RELATIONSHIPS
• Mitchell (1997) has identified the following types of relationship and their
relevance for different business situations:
• Parent-child (loan marketer)
• Teacher-student (mass marketer of internet software)
• Leader-follower (fashion brand)
• Comrade-at-arms (pressure groups)
• Fellow enthusiast (sports car)
• Confidant (financial service advisor)
• Idol to be worshipped (luxury brand)
• Casual friend (beer)
• Soulmate (special whisky)
• Old flame (the brands your mom used)
• A friend whom you seek out to escape from everyday reality (holiday)
STAGES OF RELATIONSHIP

2. Increased
3. Depth of
frequency of
1. Contact relationship
contact
intimacy
involvement

4. Deterioration 5. Repair 6. Dissolution

 Relationship Marketing Concept

• A form of marketing that puts particular emphasis on building a long-term, more

intimate bond between an organization and its individual customers.
• Building cooperative relationships is important because of the current era of
intense competition of demanding customers than it has been ever before.
• Therefore, customer relationship management is the buzzword in modern
marketing.
6
Thank you

Ms. Pooja Verma

School of Business Management
Shoolini University
Village Bajhol, Solan (H.P)

+919418362236(Mob No.)
poojaverma@shooliniuniversity.com