Relationship marketing in service oriented companies: Retail pharmacy case study

Abstract

Marketing is a moral responsibility of every modern company. All successful companies have to be marketing oriented. Marketing concept is based on the idea that customers and satisfaction of their needs and wants are always in focus of the companies, as most appropriate manner for increasing their profitability. Small companies are forced to be marketing oriented, also. Small companies have generally employed intuitions rather than marketing research techniques in their attempts to maximize customer satisfaction. Managers of small firms usually are focused on the fact that products and services they provide are those factors that will satisfy and retain the consumers. Most of small firm managers are not concerned with potential feedback from consumers. Relationship marketing as valuable tool for attracting and retaining consumers in small service oriented companies is defined in the study. How relationship marketing works in practice is shown through case study conducted in local retail pharmacy. Challenging situation for the pharmacy is to discover how to increase the profit when work with uniform prices of drugs. The research process conducted in the study has to provide insights into relationship marketing based on the patient's behavior and patients buying decision making. Cognition of these two aspects would serve as good basis for developing further marketing actions for retaining the existing and attracting new patients as strategy for increasing the profit.