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"Term Paper on Relationship Marketing"
Term Paper on Relationship Marketing
Author:
Arianna Escobar
The dyadic relationship of a buyer and a seller, bonding can be described as a dynamic process that is progressive over time (Dwyer et al., 1987; Ganesan, 1994; Levitt, 1983). The bonding process begins with the very basic force of the need for a seller to find a buyer for their product, and the desire for a buyer to purchase a product that will satisfy their needs. As time goes on, this relationship then advances toward interdependency between the buyer and the seller, which will finally lead to a situation between the two where there is total commitment on the part of both parties. Termination costs now restrict or almost prohibit an easy dissolution of the bond. At this advanced stage in the relationship, the bonds are so solidified that they are almost impossible to break (Heide and Weiss, 1995).

At the lowest or most rudimentary level, bonding begins as a result of the fulfillment of a basic business need on the part of both parties involved, and then grows as a social relationship develops between the vendor and the customer. One has a product/service to sell and the other has need of purchasing a product/service. Whether or not a bond will develop between the two parties, depends on such factors as the fit between the vendor's product/service and the seller's needs, the price of the vendor's product/service (Berry, 1995), the expertise of the vendor at providing a quality product/service and quality follow-up service (Sheth, 1994), and the ability of the seller organization to make and keep realistic promises to the customer (Bitner, 1995).

The influence of some of these factors mentioned above was reflected in the study done in the mainframe computer market referred to previously. When asked what factors were important to their satisfaction with their mainframe vendor, a majority...

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essay on Term Paper on Relationship Marketing
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08/11/2011
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