Business Relationships: Transactional, Relationship and Personal Marketing

Selling involves meeting with people who eventually buy your products or services. It involves building a relationship between the sales person and customer. Three kinds of relationships exist between the customer and sales person.

1. Transactional Marketing

2. Relationship Marketing

3. Partnering

TRANSACTIONAL MARKETING

This type of marketing exists mostly in a low-priced, low-profit margin business. In this case, sales people sell and do not go back to the customer and does not care whether the buyer is happy after the purchase. The sales person does not have a strong relationship with the buyer. Therefore the buyer have no trust and confidence in sales person / people. Sales people to achieve their objective put pressure on the buyer to make purchase. This kind of sales can be described as hard selling.

RELATIONSHIP MARKETING

This type of marketing gives adequate attention to the needs of customers. Due to high competition in the market, business executive have come to realize that to be ahead of competition, there should be a better approach to the relationship between buyer-sellers. Customer loyalty depends on giving special attention to the needs of the customers. Beginning of a buyer-seller relationship starts from first time purchase personal intimacy and excellent service is what is needed to be in control of nowadays-sensitive market. Customers want to have full value for their money. Buyers have become wiser and more discerning. They want a sales person they can trust, have confidence in their services. The result is that a solid personal bond is created between the buyer and sales person, which can last for a very long time. Sales people who are progressive and forward-looking have to adopt this kind of symbiotic relationship. Sales person ought to be customer-driven. Again, special attention is given to major customers who buy in large quantities with special privileges extended to them. It is worthy to note that it is cost effective to maintain existing customers than to create new ones.

PARTNERING