New Economic Perspective on Relationship Marketing

Abstract

This study offers insights into the economic side of relationship marketing. The paper aims to present the view by placing Relationship Marketing and Service-Dominant Logic under the relational marketing economic side. This study also discusses the economic perspective focuses on financial outcomes. The non-economical perspective emphasizes building strong relationships with the customers that can help the firm increase customer loyalty and commitment to the firm as the non-financial perspective. Our paper discusses that the application of relationship marketing and service-dominant logic has these financial outcomes. We discussed the service-dominant logic mentality, which proposes everything to be service; relations happen to be the most critical success factors in today’s marketing practices that impact all firms and stakeholders.