Marketing Mix Paradigm Fails: Relationship Marketing Emerges as Future Strategy
The article talks about how the current way of marketing, called marketing mix management, might not be the best approach anymore. It suggests that a new way of marketing, called relationship marketing, is needed. This new approach focuses on building and managing relationships with customers. The article says that the old marketing model with its Four P's is too simple and limits our thinking. It also mentions that business trends like partnerships and alliances support the need for a new marketing strategy. The article concludes that marketing theory and customers are suffering because of the current marketing thinking, and that a relationship-based marketing strategy could bring changes in marketing focus, pricing, quality management, internal marketing, and organizational development.