The value concept and relationship marketing

Research Journal

Document Information:
Title: The value concept and relationship marketing
Author(s): Annika Ravald, (Department of Marketing and Economic Geography, Swedish School of Economics and Business Administration, Finland), Christian Grönroos, (Department of Marketing and Economic Geography, Swedish School of Economics and Business Administration, Finland)
Citation: Annika Ravald, Christian Grönroos, (1996) “The value concept and relationship marketing”, European Journal of Marketing, Vol. 30 Iss: 2, pp.19 – 30
Keywords: Customer satisfaction, Quality, Relationship marketing, Value
Article type: Conceptual Paper
DOI: 10.1108/03090569610106626 (Permanent URL)
Publisher: MCB UP Ltd
Abstract: The value concept is a basic constituent of relationship marketing. The ability to provide superior value to customers is a prerequisite when trying to establish and maintain long-term customer relationships. Stresses the fact that the underlying construct of customer satisfaction is more than a perception of the quality received. What must be taken into account as well is the customer’s need of quality improvements and his willingness to pay for it. From a relationship perspective these aspects are fundamental, since they are both related to the costs of the parties involved. Suggests that a reduction in customer-perceived costs may be a most recommendable method of providing value to the customer, since, done properly, it can improve the internal cost efficiency as well. It is then possible to establish and maintain mutually profitable customer relationships, which is of prime concern in relationship marketing.

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Posted on August 5, 2011, in Model Penelitian Marketing and tagged , . Bookmark the permalink. Leave a comment.

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