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How Gratitude Helps To Build, Maintain And Transform Commercial Relationships
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For decades, gratitude is considered as a crucial mediator in the relationship marketing model along with trust and commitment (Palmatier 2009). Customer relationship management (CRM) is an imposing start; however, it suggests at the significance of gratitude in the relationship between customer and seller by focusing particularly on customers' gratitude (D. Raggio 2014). Hence, the aim of this study is to exhibit the way in which gratitude facilitates to construct, continue and transform business relationships. An extensive literature review would be carried for critically analyzing the role of gratitude in commercial relationships and the way it helps to improve brand image and brand loyalty of the mobile phone industry.
Gratitude is a sentiment that arises when a beneficiary perceives that a benefactor has acted purposely for improving the well-being of the beneficiary (D. Raggio 2014). Hence, gratitude refers to the emotional response to this discernment (Wetzel 2014). Gratitude contains emotional, behavioural and cognitive components, as when an individual identifies a benefit conferred by an organization or a person, appreciate and concedes the benefit (Deng 2010). Recognition is an important element of showing gratitude; however, it is not sufficient. Therefore, consequently, only the behavioural and emotional components are discussed (Wetzel 2014).
In both B2B and B2C businesses, gratitude helps increasing consumer commitment and trust towards the mobile phone industry. As per the viewpoint of (Hennig-Thurau 2010), relationship marketing arises, when a retailer provides additional effort; acclimatizes policies; and provides minute favours or kindness, such as gifts, meals, or modified notes, create customer approach of gratitude, which results in gratitude-based mutual behaviours, lead to improved seller performance. From the perspective of relationship marketing, both sentimental (manner of gratitude) and behavioural (gratitude-based common behaviours) features of gratitude helps in evaluating the usefulness of relationship marketing (Hur 2010).
Gratitude can be felt in commercial relationships when sellers make the relational exchange and gathering. For example, an organization can put extra effort comprehensive to provide an advantage to a buyer such as support further than contractually compelled behaviours, purchases made considering the factors beyond just financial ones like the wish for to continuing to work with a particular person or company, or gifts substituted such as, rounds of golf, dinner and so on.
Gratitude can be expressed in various ways by the firms to its customers in order to gain their trust and loyalty. For example, the CEO of Samsung apologized for the inconvenience and failure of Galaxy Note 7 for regaining customer trust. In the mobile phone industry, organizations use sales team mobile cloud solutions in order to ensure that customers are connected with the correct person for getting accurate information (Heller Baird 2011). This makes every call positive, personal and productive.
Satisfaction-trust-commitment is the agreement on the fundamental order of arbitrating variables for relationship management; nevertheless, some exceptions exist in this context (Hennig-Thurau 2010). For example, a definite level of conviction must be present between two parties in order to involve in a market exchange in the opening place (Deng 2010).
Trust is a significant element, which is focused on belief (self-belief) that is related to past communications that the second party may not be opportunistic; however, behave generously in the future. On the other hand, gratitude is the feeling that is the outcome of the acceptance that a party has or is alleged to have behaved benignly in the earlier period.
Customer relationship management is holistic of attaining, retaining and mounting customers. It contains all the off-line and in-line relationship management. According to (Kim 2010), management is a broader concept as compared to marketing as it includes human resource management, service management, strategic management, marketing management, sales management, research, and development management.