There are three types of relational benefits, which are as follows:

– Confidence benefits;
– Social benefits; and
– Special treatment benefits.
• Transactional marketing concentrates on getting new customers while
relationship marketing works on building long-lasting relationships within
the organisation and with potential customers to have new prospects.
• The characteristic of relationship marketing is based on the length, depth and
breadth of the time.
• The following are the three stages in relationship continuum:
– Financial stage;
– Social interactions stage; and
– Interdependent partnership stage. s
• There are three levels of relationship marketing, which are as follows:
– First level: Financial bonds;
– Second level: Social bonds or interaction; and
– Third level: Structural bonds or independent partnership.
• The following are the five disadvantages in relationship marketing:
– Loss of control;
– Indeterminateness;
– Resource demanding;
– Preclusion from other opportunities; and
– Unexpected demands.
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TOPIC 2 CHARACTERISTICS OF RELATIONSHIP MARKETING 􀁗 35
Characteristic of relationship
marketing
Confidence benefits
Level of marketing
Relational benefits
Relationship continuum
Social benefits
Special treatment benefits
Transactional marketing
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