RELATION SHIP MARKETING

B To B Marketing

[DATE]
[Nom de la société]
[Adresse de la société]
RELATION SHIP MARKETING

GROUP MEMBERS
MMS 19 368 RAPATSALAHY Andriantsoa Jean Marc
MMS 19 369 RASAMIZANANY Mirindra Jonathan
MMS 19 374 RAVELOARISON Yohann Gianni
MMS 19 376 RAZAFIMAHERY Mbolatiana Stéphanie
MMS 19 377 RAZAKAMIADANA Riantsoa Carine

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SUMMARY
I. INTRODUCTION
II. SUMMARY OF THE RELATIONSHIP MARKETING THEORY MAIN
POINTS AND IMPLICATIONS
A. Concept of Relationship Marketing
B. Importance of Commitment and Trust in Relationship Marketing
C. Application of Relationship Marketing to B to B
III. COMPARISON AND CONTRAST BETWEEN THE THEORIES
A. Definitions of the major theories
B. Strength and weaknesses
C. Similarities and differences
D. Complementarities and contradictions
IV. CRITICAL EVALUATION OF THE RELATIONSHIP MARKETING
THEORY
A. Limitations
B. Assumptions
C. Future directions in B to B Marketing
V. CONCLUSION

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I. INTRODUCTION

In the landscape of business-to-business (B2B) marketing, the application of major

theoretical frameworks provides invaluable insights into understanding and navigating the
complexities of commercial relationships. The Relationship Marketing Theory underscores
the significance of cultivating long-term partnerships based on trust, communication, and
mutual value creation. It’s a theory which emphasizes the importance of building enduring
connections with customers through personalized interactions and ongoing support, thereby
fostering loyalty and driving repeat business. Unlike the transactional nature of traditional
commerce, B2B relationships emphasize long-term engagement and personalized interactions
tailored to the unique needs and preferences of each client. With complex decision-making
processes, extended sales cycles, and high stakes involved, relationship marketing
acknowledges the importance of building rapport and credibility over time. It centers on
delivering exceptional value through customized solutions, transparent communication, and
ongoing support, ensuring that businesses not only meet but exceed the expectations of their
clients. By prioritizing relationships over transactions and embracing a collaborative mindset,
B2B enterprises can cultivate robust networks of loyal clients, driving sustainable growth and
competitive advantage in today's dynamic marketplace.

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II. SUMMARY OF THE RELATIONSHIP MARKETING THEORY MAIN

POINTS AND IMPLICATIONS

A. Concept of Relationship Marketing

The concept of Relationship Marketing refers to any kind of relation or connection that
companies can develop between them. It can concern relational contracting (MacNeil 1980),
relational marketing (Dwyer, Schurr, and Oh 1987), working partnerships (Anderson and
Narus 1990), symbiotic marketing (Varadarajan and Rajaratnam 1986), strategic alliances
(Day 1990), co-marketing alliances (Bucklin and Sengupta 1993), and internal marketing
(Arndt 1983; Berry and Parasuraman 1991).
However, companies are in situation of constant competition with one another. Therefore, in
order to compete, they have to cooperate to remain effective and keep their competitive
advantage. Which is to say, competition, thus cooperation is inevitable between companies
operating in the same business unit.

1. Definition of Relationship Marketing

“Relationship marketing can be defined as a theory referring to all marketing activities

directed toward establishing, developing, and maintaining successful relational exchanges.”
Dwyer, Schurr, and Oh (1987)
Relationship marketing can be perceived as a strategic approach that focuses on building and
nurturing long-term relationships with customers, rather than solely emphasizing individual
transactions. At its core, relationship marketing acknowledges that sustained profitability and
success stem from cultivating strong, trust-based connections with customers over time.
Unlike traditional transactional marketing, which prioritizes short-term sales, relationship
marketing aims to foster loyalty, satisfaction, and repeat business through ongoing
engagement and personalized interactions. Key elements of relationship marketing include
understanding and meeting the unique needs and preferences of customers, delivering
exceptional value and service, maintaining open and transparent communication, and actively
seeking feedback to continuously improve the customer experience. By prioritizing the
establishment and maintenance of meaningful relationships, businesses can enhance customer
retention, generate positive word-of-mouth referrals, and ultimately drive long-term
profitability and growth.

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2. History of Relationship Marketing

The concept of relationship marketing has evolved over time, reflecting shifts in consumer
behavior, technological advancements, and changes in the business landscape. While
relationship marketing as a formal discipline emerged in the latter half of the 20th century, its
roots can be traced back to earlier periods.
The seeds of relationship marketing can be found in the early days of commerce when
businesses operated within tight-knit communities, and transactions were often based on
personal relationships and trust. In this context, merchants relied on repeat business and
word-of-mouth referrals, emphasizing the importance of customer satisfaction and loyalty.
With the advent of the Industrial Revolution, mass production and mass marketing became
dominant paradigms. Businesses focused on achieving economies of scale and reaching broad
markets through mass advertising and standardized products. However, this era marked a
shift away from personalized relationships between businesses and customers.
In the 1980s and 1990s, the modern concept of relationship marketing began to take shape
fueled by academic research and industry practices. Scholars such as Leonard Berry,
Theodore Levitt, and Jagdish Sheth explored the importance of customer retention,
satisfaction, and long-term value creation in marketing theory.
Lately, the proliferation of technology, particularly the internet and digital communication
channels, revolutionized the way businesses interact with customers. Customer Relationship
Management (CRM) systems emerged, enabling businesses to collect, analyze, and leverage
customer data to personalize marketing efforts and enhance customer experiences.
As markets became increasingly saturated and competitive, businesses recognized the
importance of differentiating themselves through superior customer service and relationship-
building initiatives. The concept of customer-centricity gained prominence, with businesses
shifting their focus from transactions to long-term customer relationships.
Relationship marketing practices expanded beyond traditional industries like retail and
services to encompass a wide range of sectors, including business-to-business (B2B)
marketing, healthcare, finance, and technology. Businesses began to invest in loyalty
programs, customer engagement initiatives, and personalized marketing strategies to
strengthen relationships with customers. Relationship marketing then became an integral
component of marketing strategy, alongside other paradigms such as transactional marketing
and branding. Businesses recognized that building strong, enduring relationships with

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customers not only fosters loyalty and repeat business but also drives sustainable growth and
profitability.
Nowadays in the digital age, relationship marketing continues to evolve in response to
changing consumer behaviors, technological innovations, and market dynamics. Concepts
such as social media marketing, influencer marketing, and customer experience management
have reshaped how businesses engage with customers and nurture relationships in the digital
landscape.

3. Forms of Relationship Marketing

Relationship Marketing can take several forms that can be incorporated by businesses into
their strategies to cultivate strong, enduring relationships with their customers, driving
loyalty, retention, and ultimately, long-term success:
- The partnering involved in relational exchanges between manufacturers and
their goods' suppliers, as in "just-in-time" procurement and "total quality
management" (Frazier, Spekman, and O'Neal 1988; O'Neal 1989);
- Relational exchanges involving service providers, as between advertising or
marketing research agencies and their respective clients (Beltramini and Pitta 1991;
Moorman, Zaltman, and Deshpande 1992);
- Strategic alliances between firms and their competitors, as in technology alliances
(Nueno and Oosterveld 1988); co-marketing alliances (Bucklin and Sengupta 1993);
and global strategic alliances (Ohmae 1989);
- Alliances between a firm and nonprofit organizations, as in public purpose
partnerships (Steckel and Simons 1992);
- Partnerships for joint research and development, as between firms and local, state,
or national governments (Comer, O'Keefe, and Chilenskas 1980);
- Longterm exchanges between firms and ultimate customers, as particularly
recommended in the services marketing area (Berry 1983);
- Relational exchanges of working partnerships, as in channels of distribution
(Anderson and Narus 1990);
- Exchanges involving functional departments (Ruekert and Walker 1987);
- Exchanges between a firm and its employees, as in internal marketing (Arndt 1983;
Berry and Parasuraman 1991);
- And within-firm relational exchanges involving such business units as subsidiaries,
divisions, or strategic business units (Porter 1987).
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B. Importance of Commitment and Trust in Relationship Marketing

The presence of relationship commitment and trust is central to successful relationship

marketing as it is a vector of efficiency, productivity, and effectiveness. In fact, any kind of
relationship relies on commitment and trust to be fully effective. Consequently, cooperative
behaviors are strongly encouraged in order to achieve relationship marketing success.
Commitment and trust are keys because they encourage marketers to:
- Work at preserving relationship investments by cooperating with exchange
partners,
- Resist attractive short-term alternatives in favor of the expected long-term
benefits of staying with existing partners,
- And view potentially high-risk actions as being prudent because of the belief that
their partners will not act opportunistically.
Plus, "commitment to the relationship is defined as an enduring desire to maintain a valued
relationship." Moorman, Zaltman, and Deshpande (1992, p. 316)
This definition of commitment can be explained by the following: The higher the
commitment is, the more value it adds to the relationship. Which is to say, a strong and
valuable relationship requires a certain degree of commitment.
Commitment can come from recruiting and training practices, job equity, organizational
support and can result in decreasing turnover, bring higher motivation, and increasing
organizational citizenship behaviors.
As for trust, its existence is based on reliability and integrity. "Trust is defined as a
willingness to rely on an exchange partner in whom one has confidence." Moorman,
Deshpandé, and Zaltman (1993, p.82)
To summarize, commitment and trust are keys to a successful relationship marketing as they
ensure higher value to the relationship.
From Commitment and Trust can come various outcomes:
- Acquiescence and propensity to leave directly flow from relationship commitment.
Acquiescence is the degree to which a partner accepts or adheres to another's specific
requests or policies.
- Functional conflict and uncertainty are the direct results of trust.
- And most importantly, we propose that cooperation arises directly from both
relationship commitment and trust.

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C. Application of Relationship Marketing to B to B

Case: CATERPILLAR INC.

Caterpillar is the world leader in construction manufacturer and mining equipment, off-
highway diesel and natural gas engines, industrial gas turbines and diesel-electric
locomotives.
This leading position was gained mainly because the enterprise gives a real importance to
customer satisfaction (satisfaction of societies that are customers) by building strong
relationships with them. This strong relationship is built through offering extensive support
services, including maintenance, training, and financing options to maximize customer
satisfaction.
Also, Caterpillar put Commitment as one of its values; as they say, “We embrace our
responsibilities. Individually and collectively, we make meaningful commitments - first to
each other, and then to those with whom we work, live and serve.”
As an example of successful collaboration, we can mention the long lasting collaboration of
Caterpillar with Scomat, a company of IBL Group, working in the traditional agricultural
sector, civil engineering and public works, that has lasted for more than 90 years. The IBL
group said they build their partnerships through mutual trust, durability and longevity. “The
financial aspect is not the only criterion that motivates us in the choice of our partners, but it
is important that we share the same philosophy.”
Source: caterpillar.com; scomat.com

We can see in this case that commitment and trust play a crucial role in the relationship
building between the two companies. They share similar values that contribute to building
strong and lasting relationships between the partners. This can be categorized as a “Strategic
alliances between firms and their competitors” form of relationship Marketing.
Also, Caterpillar is said to build strong relation with its customers, and that can be
categorized in the “Longterm exchanges between firms and ultimate customers” form of RM.
Last, they said they make meaningful commitments with whom they work, live and serve,
that is to say not only with customers, but also with their provider and their employees. This
can be categorized in the “partnering involved in relational exchanges between manufacturers
and their goods' suppliers” and “Exchanges between a firm and its employees” forms.

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In summary, a society can show different forms of Relationship Marketing in its B to B

relations, as said before, and this relationship can be built strongly through different factors,
including: - shared values between the companies,
- importance and efforts given into maintaining the relation,
- offering a great quality of services.
All of those factors have a link with commitment and trust (values, commitment in putting
efforts, commitment in great service offers, trust led by those services and acts, …)
Some benefits from relationship marketing:
 Long lasting partnership
 Increase in notoriety
 Mutual evolution

III. COMPARISON AND CONTRAST BETWEEN THE THEORIES

A. Definitions of the major theories

● The signaling theory

The signaling theory posits that the transmission of information from one individual, called
the sender, to another - the receiver - can influence the behavior of the receiver. (Dunham,
2011)
Signaling theory is fundamentally concerned with reducing information asymmetry between
two parties (Spence, 2002)
In other words, signaling theory is concerned about good communicating and exchanging
information of quality to build a strong relation between two parties.

● The relationship marketing theory (RM)

Relational Marketing refers to all marketing activities directed toward establishing,
developing and maintaining successful relational exchanges. (Morgan and Hunt, 1994)

● The resource-based view theory (RBV)

The resource-based view argues that a firm’s sustained competitive advantage is based on its
valuable, rare, inimitable, and non substitutable resources. (Barney, 1991). In other words, it
focuses on using the unique resources of the enterprise to gain competitive advantage.

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● The network theory

Network theory in B to B focuses on understanding and leveraging the relationships and
connections between various entities within a business network (Willkinson). It can be done
by viewing B2B markets as interconnected systems rather than isolated transactions, so the
system can be understood, and so it will lead to opportunities.

● The service-dominant logic theory (S-D)

This theory posits that service is the dominant logic for marketing. In this context, service
becomes the unifying purpose of any business relationship, seen from any perspective,
through resource procurement, production, distribution and consumption. (Vargo and Lusch,
2006).

B. Strength and weaknesses

1. Strengths

Focus on Long-Term Relationship, Definition of Key Mediating Variables: Engagement

and Trust, A Solid Foundation and Practical Application Based on a Study (on
independent automotive tire retailers)

The theory of engagement and trust in relational marketing, developed by Morgan and Hunt,
boasts several remarkable strengths. Firstly, it is built upon solid theoretical foundations,
drawing upon key concepts from social psychology and relationship theory. This robust
theoretical framework provides a precise framework for understanding and managing
interactions between businesses and their customers. Moreover, this theory emphasizes the
sustainability of relationships, highlighting the importance of ongoing interactions and the
establishment of long-term relationships rather than solely focusing on short-term
transactions. This approach fosters customer loyalty and creates long-term value.

Another significant strength lies in its practical application and empirical validation across
various business contexts. Empirical studies have confirmed the theory's key concepts,
enhancing its relevance and usefulness in the real world. By identifying engagement and trust
as central mediating variables in the customer-business relationship, this theory also offers
valuable insights for marketing practitioners. By understanding how these variables influence
customer behavior, businesses can design more effective marketing strategies to nurture
positive and lasting relationships with their clientele.
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2. Weaknesses

 Absence of Consideration for Other Factors and Incomplete Approach

This theory might also overlook the tangible and unique resources that each party brings to
the relationship (Resource-Based View Theory). By primarily focusing on relational
aspects, it risks underestimating the importance of material resources and distinctive skills in
building lasting relationships. Other elements, such as product quality, price, marketing
communication, and overall customer experience, also influence relationships. The theory of
engagement and trust does not account for all of them. For instance, an excellent product can
compensate for an initial lack of trust, while a poor customer experience can negate any prior
engagement. While the theory of engagement and trust primarily focuses on customer-
business relationships, it might neglect the importance of relationships within a broader
ecosystem, such as envisioned in the Service-Dominant Logic Theory. By limiting itself to
interactions between the customer and the company, it might fail to grasp the broader
influences and interdependencies shaping relationships in a dynamic business environment.
Although the theory of engagement and trust acknowledges the importance of ongoing
relationships, it may sometimes underestimate the impact of punctual signals (Signaling
Theory) in building initial trust. Punctual signals can play a crucial role in establishing
credibility and trust during early interactions, something that the theory of engagement and
trust may not fully capture.
 Excessive Simplification
The theory of engagement and trust tends to oversimplify the concepts of engagement and
trust by treating them as binary entities: present or absent. However, in reality, these notions
vary in intensity. Engagement can be superficial or profound, and trust can be fragile or
robust. Ignoring this nuance can lead to inappropriate marketing strategies.

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C. Similarities and differences

RELATIONSHIP
TO
THEORY FOCUS KEY CONCEPTS
COMMITMENT-
TRUST THEORY

Commitment-Trust
Development and Emphasizes
Theory of
maintenance of long- commitment and trust N/A
Relationship
term relationships as crucial elements
Marketing

Signals, such as
Communication of Signals contribute
branding and
Signaling Theory credible information to trust-building in
reputation, convey
to reduce uncertainty relationships
information

Sustainable Firm-level
Resource-Based competitive Firm-specific resources resources
View Theory advantage through and capabilities complement
unique resources relational aspects

Structure and
Highlights
dynamics of social Interconnectedness and
Network Theory importance of
and business relationship influence
relationships
networks

Value co-creation Customer-centric

Service-Dominant Shares customer-
through collaborative perspective and value
Logic Theory centric focus
service exchanges co-creation

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D. Complementarities and contradictions

THEORY PAIR COMPLEMENTARITIES CONTRADICTIONS

Signaling theory focuses on

Signaling theory provides insights
conveying credible information,
Signaling Theory into how firms can communicate
whereas Commitment-Trust
& Commitment- credible information to reduce
Theory emphasizes ongoing
Trust Theory uncertainty, contributing to trust
commitment and mutual actions
building.
for trust building.

RBV focuses on internal firm

RBV complements Commitment-
Resource-Based resources, while Commitment-
Trust Theory by highlighting how
View Theory & Trust Theory emphasizes
firm resources can support
Commitment- relational aspects and
relational exchanges and build
Trust Theory interdependencies with
trust with customers.
customers.

Both theories recognize the Network Theory has a broader

importance of relationships.
Network Theory
Network Theory focuses on
& Commitment-
structure and dynamics, while
Trust Theory
Commitment-Trust Theory
emphasizes relational exchanges.
focus beyond specific buyer-
seller relationships, while
Commitment-Trust Theory
specifically targets relationships
in marketing.

Service- They may differ in their

Dominant Logic emphasis on specific
Both theories emphasize value co-
Theory & mechanisms for value creation
creation and customer-centricity.
Commitment- and the role of trust in
Trust Theory relationships.

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IV. CRITICAL EVALUATION OF THE RELATIONSHIP MARKETING

THEORY

A. Limitations

LIMITATION DESCRIPTION

Cultural differences have a significant

impact on engagement and trust. What
works in one culture may not work in
another. For example, customer service
Cultural context
expectations, communication norms, and
values vary from country to country.
Therefore, marketers must adapt their
approaches based on the cultural context.

Trust is crucial in business relationships,

but it's also fragile. A single mistake,
whether it's a defective product, a delivery
Dependence on trust
delay, or clumsy communication, can break
the trust established with customers.
Companies must constantly nurture and
preserve it.

Subjective measurement and perception Assessing engagement and trust is complex.

Measurement methods, such as surveys or
indicators, are often subjective. Customers
may express their engagement differently,
and trust perception can vary. Traditional
methods may not fully reflect reality, and
it's challenging to precisely measure these

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abstract concepts.

The theory mainly focuses on long-term

relationships. However, in a constantly
changing world, relationships can be more
Longterm relationship lifespan
unstable. Customers change their minds,
markets evolve, and companies must adapt
quickly. It's essential to consider this
dynamic to maintain lasting relationships.

B. Assumptions

In the 1990s, many researchers were determined to identify the different variables influencing
the relational approach. Based on empirical research, they were able to deduce that there are a
total of six key variables: trust, commitment, communication, shared value, cooperation and
social contact. These variables play a crucial role in the development and maintenance of
solid, lasting relationships between individuals or organizations.
The KMV model, developed by Morgan and Hunt in 1994, focuses on two key variables:
commitment and trust. These components are essential for building strong, lasting
relationships between companies and their customers.
To clarify the importance and dynamics between engagement and trust in the context of
relationship marketing, a series of 13 hypotheses were developed, seeking to determine
whether these two variables are simply additional factors influencing results, or whether they
play a central role in the overall success of relationship marketing.

H1: There is a positive relationship between relationship termination costs and relationship
commitment.
H2: There is a positive relationship between relationship benefits and relationship
commitment.
H3: There is a positive relationship between shared values and relationship commitment.
H4: There is a positive relationship between shared values and trust.
H5: There is a positive relationship between communication and trust.

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H6: There is a negative relationship between opportunistic behavior and trust.

H7: There is a positive relationship between relationship commitment and acquiescence.
H8: There is a negative relationship between relationship commitment and propensity to
leave.
H9: There is a positive relationship between relationship commitment and cooperation.
H10: There is a positive relationship between trust and relationship commitment.
H11: There is a positive relationship between trust and cooperation.
H12: There is a positive relationship between trust and functional conflict.
H13: There is a negative relationship between trust and uncertainty.

The analysis confirmed the 13 initial hypotheses, and further modeling validated 12 of them.
This means that the initial ideas explain more than half of the commitment and trust in
relationships, as well as a significant proportion of the observed results, notably cooperation,
which is crucial in this field. In short, it shows that commitment and trust are really important
for success in relationship marketing.

In our case, we have developed the following hypotheses:

H1: Companies that foster a positive work environment and strong interpersonal relationships
with their employees are better equipped to build trusting relationships with their customers.
H2: Companies that invest in training programs focused on customer service and effective
problem-solving boost customers' confidence in their ability to deliver high-quality service.
H3: Employee commitment to the company's values and mission is positively linked to
customer satisfaction and loyalty.
H4: Brands that deliver memorable, consistent customer experiences at every touchpoint
build customer trust and encourage greater engagement with the brand.
H5: Regular, transparent communication between the company and its customers helps build
trust and commitment.

A company's human resources play a crucial role in establishing relationship marketing based
on commitment and trust. Employees, especially those in direct contact with customers, such
as sales representatives, have a significant impact on the customer experience. Indeed,
beyond the dialogues and exchanges established by salespeople, the customer experience is
strongly influenced by the quality of the welcome and interactions with the company's staff.
Take, for example, the case where a customer visits the company's premises to obtain
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information. If this customer feels well received and well informed about his or her requests,
he or she is more likely to return in the future. This positive first impression left by the
company's employees helps to reinforce the customer's trust in the brand and encourages
future commitment.
In this context, employee training is of paramount importance. By equipping them with the
skills needed to deliver quality customer service, and to respond effectively to customer
needs and expectations, the company can guarantee positive, memorable interactions at every
touchpoint. Thus, investing in staff training is essential to ensure the consistency and quality
of the customer experience, reinforcing the relationship of trust and commitment between the
company and its customers.

C. Future directions in B to B Marketing

In an ever-changing business environment, relationship marketing plays a crucial role in

building and maintaining lasting customer relationships. To remain competitive, companies
must keep pace with technological developments and invest in innovative strategies to stand
out from the competition. What's more, building engagement and trust with customers is an
essential process that requires ongoing investment. Here are three key ideas for implementing
an effective relationship marketing strategy:

 Relationship marketing must keep pace with technological developments. To remain

competitive, companies need to allocate adequate budgets to invest in innovative tools
and strategies, such as targeted digital marketing campaigns, the use of social
networks for customer engagement, and the development of user-friendly mobile
applications. By investing in these initiatives, companies can ensure an effective
market presence and maintain lasting relationships with their customers.
 Building engagement and trust with customers is a process that can take time. To
speed up this process, it's crucial to engage in open and meaningful discussions with
customers through proactive communication via a variety of channels. By actively
listening to customers' needs and concerns, and responding promptly to their
questions, companies can strengthen the relationship and build trust. These regular
interactions also help to better understand customer expectations and adapt offers
accordingly, helping to build customer loyalty and stimulate business growth.

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 To establish relationship marketing based on commitment and trust, a company needs

to ensure the quality of its products or services. This may involve creating dedicated
services, such as after-sales service for products, or improving customer service for
services offered. By focusing on customer satisfaction, the company builds trust and
fosters long-term commitment.

V. CONCLUSION

Relationship marketing in a business to business setting is all about fostering strong

connections and partnerships with other companies. It's not just about making a one-time
sale, but rather building long-term relationships based on trust, mutual respect, and added
value. This approach focuses on understanding the unique needs and preferences of each
individual business client and going above and beyond to meet those needs. By consistently
delivering high-quality products or services, providing outstanding customer support, and
actively seeking feedback to improve offerings, companies can strengthen their relationships
with B2B clients over time. Ultimately, relationship marketing in a B2B context is key for
driving customer loyalty, repeat business, and referrals within the business community. It's all
about creating a win-win situation where both parties benefit from the partnership.
Building strong relationships with B2B clients not only fosters loyalty and repeat business,
but also opens the door to potential collaborations and partnerships in the future. By
understanding the needs and preferences of their clients, companies can tailor their offerings
to better meet those requirements, further solidifying the relationship. In the competitive
landscape of B2B markets, maintaining strong relationships can be a key differentiator that
sets a company apart from its competitors.

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ANNEX
The Commitment-Trust Theory of Relationship Marketing – Robert M. Morgan & Shelby D.
Hunt

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Table of content
I. INTRODUCTION_______________________________________________________3
II. SUMMARY OF THE RELATIONSHIP MARKETING THEORY MAIN
POINTS AND IMPLICATIONS_______________________________________________4
A. CONCEPT OF RELATIONSHIP MARKETING____________________________________4
1. Definition of Relationship Marketing______________________________________4
2. History of Relationship Marketing________________________________________5
3. Forms of Relationship Marketing________________________________________6
B. IMPORTANCE OF COMMITMENT AND TRUST IN RELATIONSHIP MARKETING__________7
C. APPLICATION OF RELATIONSHIP MARKETING TO B TO B________________________8
III. COMPARISON AND CONTRAST BETWEEN THE THEORIES_____________9
A. DEFINITIONS OF THE MAJOR THEORIES_______________________________________9
B. STRENGTH AND WEAKNESSES_____________________________________________10
1. Strengths___________________________________________________________10
2. Weaknesses_________________________________________________________12
C. SIMILARITIES AND DIFFERENCES__________________________________________13
D. COMPLEMENTARITIES AND CONTRADICTIONS________________________________14
IV. CRITICAL EVALUATION OF THE RELATIONSHIP MARKETING
THEORY_________________________________________________________________15
A. LIMITATIONS__________________________________________________________15
B. ASSUMPTIONS_________________________________________________________16
C. FUTURE DIRECTIONS IN B TO B MARKETING_________________________________18
V. CONCLUSION________________________________________________________19
ANNEX___________________________________________________________________20

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