Chapter 2
Technology Application Versus Business Strategy
Before we discuss the issues related to relationship strategy, let us go back to the basics and find out what “marketing” means and why there is focus on a new form of marketing, referred to as “relationship marketing.”
The group of actual and potential buyers and sellers who come together to satisfy each other’s needs and wants through exchange is an easy explanation of the term “market.” Marketing is defined as a social and managerial process that helps individuals and organizations obtain what they need and want through creating and exchanging products and value with others. A customer need resembles a state at which a customer feels as though he or she is lacking something that could ...
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