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Marketing And Innovation – A Relationship Approach

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  • Rodica Boier

Abstract

This paper deals with innovation from a relationship marketing perspective, the company's ability to maintain interactions with its stakeholders, to take advantage from the information achieved, and this way to create new products and generate loyalty through customer satisfaction. The analysis of innovation from a relationship establishment standpoint can only be viewed interdisciplinary at its core, with research and development, design, management, and marketing being symbiotically combined, with focus on stakeholders’ involvement. The paper reviwes the most significat literature in the area. There is a two-way connection between relationship marketing and innovation. On one hand, the newly launched product, conceived together with the stakeholders, is likely to generate satisfaction and, hence, customer loyalty and retention, with all known positive consequences. On the other hand, the repeated satisfaction felt by the stakeholder encourages him to expect even more from the innovative organization in what concerns the successfully launched new products. This way, the effective stakeholder involvement in the value creation process provides a strong basis for further innovation.

Suggested Citation

  • Rodica Boier, 2014. "Marketing And Innovation – A Relationship Approach," Studies and Scientific Researches. Economics Edition, "Vasile Alecsandri" University of Bacau, Faculty of Economic Sciences, issue 20.
    • Handle: RePEc:bac:fsecub:14-20-21
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    References listed on IDEAS

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    4. G. Tomas M. Hult & Jeannette A. Mena & O. C. Ferrell & Linda Ferrell, 2011. "Stakeholder marketing: a definition and conceptual framework," AMS Review, Springer;Academy of Marketing Science, vol. 1(1), pages 44-65, March.
    5. Enkel, Ellen & Kausch, Christoph & Gassmann, Oliver, 2005. "Managing the Risk of Customer Integration," European Management Journal, Elsevier, vol. 23(2), pages 203-213, April.
    6. Gruner, Kjell E. & Homburg, Christian, 2000. "Does Customer Interaction Enhance New Product Success?," Journal of Business Research, Elsevier, vol. 49(1), pages 1-14, July.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    relationship marketing; innovation; new product development; stakeholders; innovation networks;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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