Relationship marketing Essay Example | Topics and Well Written Essays - 3000 words

Relationship marketing - Essay Example It also entails additional risk when compared to domestic marketing. Many factors like culture, statutory obligations, working styles and environment, availability of technology and skilled manpower, and a host of other factors have to be taken into account. This paper is a study of relationship marketing in the context of retail trade in international markets. In the process it will provide a broad outlook on the various factors that a company has to take into account to be successful in international markets. Baker quoting Moller and Wilson defines this concept as â€Å"understanding, creating, and managing exchange relationships between economic partners, manufacturers, service providers, various channel partners, and final consumers† (Baker 2003, 33). In effect relationship marketing is just not about having profitable and mutually beneficial relationships between the retailer and the end consumer. Christopher et al, states that there are six different markets to be analyzed, referred to as the ‘six market domains’. They are customer, recruitment, referral, internal, influence, supplier & alliance markets (Christopher, Payne & Ballantyne 2002, 202). Most of these terms are self-explanatory and hence some examples of a couple of markets is given here. According to the authors, Mercedes, Rolex, and Dell are examples of products that benefit from referral sales. Influence markets are those where a company needs to exert influence on a person, organization, trade unions , or even government. The authors illustrate this with the example of how Johnson & Johnson managed the Tylenol disaster. The company managed to save its international reputation through practical and effective steps. International marketing can have different dimensions or approaches. According to Doole & Lowe, companies can just market their products internationally which is the simplest form of such marketing. In a more complex approach, companies set up their own manufacturing, and

What statistical measures should be used to assess the commercial Assignment

What statistical measures should be used to assess the commercial viability of an organisational website What would these measures show, and what would they not show - Assignment Example Therefore, commercial viability of an organization can be gauged by examining the performance of its commercial website. Performance of an organization’s website can be checked in terms of legal, technical, and marketing viabilities. According to Clark (2013), examining a website’s operational viability should be free from subjective analysis. In order to foster objectivity, analysis on a website’s viability is conducted though statistical measures. Common statistical measures applied in measuring website’s commercial viability include; central tendency measures like mean, dispersion measures like standard deviation, and linear correlation measures like Pearson correlation coefficients. Website’s viability can be ascertained by acknowledging the number of visitors viewing an organization’s web page. A high number of visitors signify increased attraction of website contents on potential customers. Contrarily, low number of visitors indicates lack of attractiveness by an organization’s website. Monitoring the number of visitors on a daily basis is not only time consuming but also monotonous. Therefore, central tendency measure of arithmetic mean can be used to determine the average number of a website’s visitors over a finite period. Perry (2006) mentioned that arithmetic mean is a representative measure which provides an overview description of a data set distribution. Unlike other measures of central tendency like mode and median, arithmetic mean summarizes behavior of a data set in a representative manner. Measuring website’s viability using mean provides an inference about the average number of persons visiting a web page. Contrarily, use of arithmetic means in statistical analysis has demerits. Arithmetic mean does not describe any relationship between multiple variables that influence the number of visitors entering a website. Undeniably, a central tendency