Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

The value concept and relationship marketing

The value concept and relationship marketing 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. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png European Journal of Marketing Emerald Publishing

The value concept and relationship marketing

Annika Ravald; Christian Grönroos
European Journal of Marketing , Volume 30 (2): 12 – Feb 1, 1996
Download PDF
12 pages

Loading next page...
 
/lp/emerald-publishing/the-value-concept-and-relationship-marketing-R34fNWZJN7
Publisher
Emerald Publishing
Copyright
Copyright © 1996 MCB UP Ltd. All rights reserved.
ISSN
0309-0566
DOI
10.1108/03090569610106626
Publisher site
See Article on Publisher Site

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.

Journal

European Journal of Marketing – Emerald Publishing

Published: Feb 1, 1996

Keywords: Customer satisfaction; Quality; Relationship marketing; Value

References

  • Customer satisfaction, market share and profitability: findings from Sweden
    Anderson, E.W.; Fornell, C.; Lehmann, D.R.
  • Marketing
    Berkowitz, E.N.; Kerin, R.A.; Hartley, S.W.; Rudelius, W.
  • Relationship Marketing: Bringing Quality, Customer Service and Marketing Together
    Christopher, M.; Payne, A.; Ballantyne, D.
  • Consumer Behavior
    Engel, J.F.; Blackwell, R.D.
  • Consumer Behavior
    Engel, J.F.; Blackwell, R.D.; Miniard, P. W.
  • Strategic Management and Marketing in the Service Sector
    Grönroos, C.
  • Service Management and Marketing ‐ Managing the Moments of Truth in Service Competition
    Grönroos, C.
  • Facing the challenge of service competition: the economies of service
    Grönroos, C.
  • From marketing mix to relationship marketing. Toward a paradigm shift in marketing
    Grönroos, C.
  • Putting the service‐profit chain to work
    Heskett, J.L.; Jones, T.O.; Loveman, G.W.; Sasser, W.E.; Schlesinger, L.A.
  • The Theory of Buyer Behavior
    Howard, J.A.; Sheth, J.N.
  • The calculus of service quality and customer satisfaction: theoretical and empirical differentiation and integration
    Iacobucci, D.; Grayson, K.A.; Ostrom, A.L.
  • Marketing Management ‐ Analysis, Planning, Implementation and Control
    Kotler, P.
  • Broadening the concept of marketing
    Kotler, P.; Levy, S.J.
  • The Marketing Imagination
    Levitt, T.
  • A comparison of episode performance and relationship performance for a discrete service
    Liljander, V.; Strandvik, T.
  • The relation between service quality, satisfaction and intentions
    Liljander, V.; Strandvik, T.
  • The nature of customer relationships in services
    Liljander, V.; Strandvik, T.
  • Relationship Marketing ‐ Successful Strategies for the Age of the Customer
    McKenna, R.
  • Pricing ‐ Making Profitable Decisions
    Monroe, K.B.
  • Activity‐Based Management ‐ New Approaches to Measuring Performance and Managing Costs
    Morrow, M. (Ed.)
  • Value‐Added Marketing: Marketing for Superior Results
    Nilson, T.H.
  • SERVQUAL: a multiple item scale for measuring consumers’ perceptions of service quality
    Parasuraman, A.; Zeithaml, V.A.; Berry, L.L.
  • Consumer Behavior and Marketing Strategy
    Peter, J.P.; Olson, J.C.
  • Competitive Advantage ‐ Creating and Sustaining Superior Performance
    Porter, M.
  • Beyond products: services‐based strategy
    Quinn, J.B.; Doorley, T.L.; Paquette, P.C.
  • Consumer Behavior
    Schiffman, L.G.; Kanuk, L.L.
  • Customer intimacy and other value disciplines
    Treacy, M.; Wiersema, F.
  • Knowledge and Value ‐ a New Perspective on Corporate Transformation
    Wikström, S.; Normann, R.
  • Measuring value in relationship development
    Wilson, D.T.; Jantrania, S.A.
  • Consumer Behavior: Basic Findings and Management Implications
    Zaltman, G.; Wallendorf, M.
  • Consumer perceptions of price, quality and value: a means‐end model and synthesis of evidence
    Zeithaml, V.A.