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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
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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

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