From Marketing Mix to Relationship Marketing

Download or read book From Marketing Mix to Relationship Marketing written by Christian Grönroos and published by . This book was released on 1993 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author of this paper believes that a paradigm shift is under way in marketing theory. For the past 40 years, marketing thought, research and practice has been dominated by the marketing mix paradigm, based on the four Ps of product, price, place and promotion. Now, however, it is challenged by relationship marketing, defined as a process of establishing, maintaining and enhancing relationships with customers and other partners, at a profit, so that the objectives of the parties involved are met through a mutual exchange and fulfilment of promises, and of trust between seller and customer. The author examines the characteristics of such relationships and discusses how relationship marketing has evolved from other contemporary marketing theories.