The concept named as also the marketing mix or 4P Concept. According to Philip Kotler, Marketing is defined as a social and managerial process by which individuals and groups obtain what they need and want through creating, offering and exchanging products of value with others is known as Marketing. The base of marketing is defined as exchange in this concept. Price, product, promotion, and place are major components. The four Ps can be expanded to the seven P's or eight P's according to different nature of services. Kotler also explains marketing as a social process.
Published in Chapter:
Financial Implications of Relationship Marketing in Airline Business
Hasan Dinçer (Istanbul Medipol University, Turkey),
Ümit Hacıoğlu (Istanbul Medipol University, Turkey), and Aydın Özdemir (Beykent University, Turkey)
Copyright: © 2015
|Pages: 43
DOI: 10.4018/978-1-4666-7484-4.ch025
Abstract
Relationship marketing promises a change from vendor, product and price centered marketing concept to a new people, long-term relationships and value centered marketing concept for airline companies in search of a messiah who will rescue them from bleeding to death because of monopolized supply market, duplicated services, financial crises, heavy pressure of competition and low profit margins. In this chapter, definitions and short background of relationship marketing are revised by focusing on components of the concept and relations with customer loyalty, customer value and basic notions. A glance at the airline industry takes place with a focus on relationship marketing and airline business on the basis of implication aspects such as frequent flyer programs, global distribution systems and internet. Specifically, domains of relationship marketing concept on the airline business are analyzed in detail specific to cost and profitability balance.