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Instruments of Business Relationship Management

In: Business Relationship Management and Marketing

Author

Listed:
  • Ingmar Geiger

    (Freie Universität Berlin)

  • Michael Kleinaltenkamp

    (Freie Universität Berlin)

Abstract

This chapter presents and discusses instruments for implementing business relationship management and marketing toward the business partner, in our case the customer. The ultimate goal of applying those instruments is of course customer loyalty, i.e. enduring business relationships as long as they are desired by the supplier. Side effects of employing those instruments are also discussed. The presentation of the different instruments is organized according to the classical four marketing P’s: product (offering), place (distribution), promotion (communication), and price. Examples of offering-related instruments include moving towards a solution offering, product-related services, and cross-selling. Efficient consumer response and just-in-time delivery are two distribution concepts aimed at strengthening supplier-customer bonds. Complaint management and fostering personal relationships between supplier and customer personnel are discussed as important communication instruments. Finally, creating innovative pricing models can also help strengthen customer loyalty.

Suggested Citation

  • Ingmar Geiger & Michael Kleinaltenkamp, 2015. "Instruments of Business Relationship Management," Springer Texts in Business and Economics, in: Michael Kleinaltenkamp & Wulff Plinke & Ingmar Geiger (ed.), Business Relationship Management and Marketing, edition 127, chapter 7, pages 195-243, Springer.
    • Handle: RePEc:spr:sptchp:978-3-662-43856-5_7
    DOI: 10.1007/978-3-662-43856-5_7
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