Relationship Marketing: Theory and Practice

`This book, written by a group of outstanding UK researchers, pinpoints the essence and scope of relationship marketing and vividly demonstrates its applicability in different industries. Relationship marketing is the marketing of the next millennium. Don't argue. Just read the book!' - Evert Gummesson, Stockholm University By examining the relationship between theory and practice, Relationship Marketing appears at an important stage in the development of relationship marketing. The opening chapter examines relationship marketing (RM) theory, reviews a number of RM definitions and reports on the economic arguments in favour of RM. It describes the nature and scope of marketing relationships, picking out characteristics such as concern for the welfare of customers, trust and commitment between partners, and the importance of customer service. Finally, it identifies a number of requirements for successful RM. The next 12 chapters describe, analyze and critique RM practice in a number of organizational settings (supply-chain relationships, principal-agent relationships, business-to-business relationships, intra-organizational relationships) and industries (hospitality, air travel, retail banking, corporate banking, credit cards, financial advisory services, advertising agencies, not-for-profit organizations). The final chapter reflects on the relationships between theory and practice.