Relationship Marketing in Emerging Economies: Some Lessons for the Future

Relationship marketing as a philosophy and a set of practices is now widely accepted by both academics and practitioners. At the centre of the relationship marketing paradigm is the notion that making the most out of existing clients is essential for long-term profitability. Retaining clients by developing relationships with them is crucial to establishing and maintaining a competitive advantage in the market. But, moving away from an analysis of needs to an analysis of the customer, from management of the transaction to management of the relationship marks a fundamental shift which positions relationship marketing as a double innovation: conceptual innovation (it has evolved into an entirely new and separate concept) and organizational innovation (it imposes transformation on organizations that are not limited to the marketing function but require the participation of all components of the firm). But, perceptions on what exactly constitutes relationship marketing may differ in various cultural settings. Indeed, the theoretical domains that relationship marketing has traditionally drawn upon have been Western theories developed in economics, psychology, and management. Having largely exhausted these sources, it is now perhaps time to look more widely and consider less traditional paradigms from a broader range of cultures. The author suggests looking at Eastern cultures wher