Development and Application of the Relationship Marketing Concept on the Industrial Market

Abstract:

Changes in the market environment set special tasks for the marketing management of industrial enterprises including the development of the most efficient interaction with consumers. According to the authors, it is possible to solve these tasks by implying the concept of relationship marketing. Despite the fact that the process of establishing and developing relationships with clients has been the scope of studies for decades, the relationship marketing remains one of the least explored and understood in the theory of marketing. In this regard, the purpose of the study is to investigate the evolution of the concept of relationship marketing. The authors identify the characteristics of marketing in the industrial market as well as specific features of business relationships that are different from the relationships in the consumer market. Consideration of characteristics and differences allows developing an effective strategy to manage relationships with key consumers of an industrial enterprise. The authors analyze the “4C” and “4R” marketing models as the most appropriate ones for building long-term relationships with consumers. We propose an algorithm for managing relationships with corporate clients in the industrial market. The authors test their approach to the management of relationships in the industrial market at the enterprise involved in the production of polyvinyl chloride shaped and linear items, located in the Sverdlovsk region.