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Changing Nature of Customer Relationships in Organizations: Strategies and Initiatives
Abstract
Companies focus on developing relationships and marketing partners to generate customer value and to receive value in return. However, companies should be selective in developing relationships with customers and marketing partners. The objective of the study is to understand and to focus on profitable customers and marketing partners. The methodology adopted is a conceptual analysis of the various aspects of building, developing, and managing relationships with selected customers and marketing partners. Companies should focus on developing deep and interactive customer relationships and on consumer-generated marketing. They should focus on developing customer relationships both in offline and online domains. They should understand various consumer rights and protect such rights. They should also focus on building relationships with marketing partners both within and outside the firms. The discussions will sensitize both academicians and practitioners about the importance of developing relationships with selected customers and partners to be successful in the long run.
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