Future of Marketing: Brand Loyalty

1994 report on marketing described an ongoing paradigm shift from the old 4P model of marketing, to a newer model based on relationship marketing. The report describes how evolving trends in business such as "the globalization of business and the evolving recognition of the importance of customer retention and marketing economies and of customer relationship economics, among other trends, reinforce the change in mainstream marketing" (Gronroos 10). The other major factor that has driven the change is the rise of services marketing, which requires a different approach than traditional product marketing.

The shift to relationship marketing is described saying, "a shift is clearly taking place from marketing to anonymous masses of customer, to developing and managing relationships with more or less well-known or at least somehow identified customers" (Groonroos 22).

One method of creating this relationship between the customer and the company is by brand...
[ View Full Essay]