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Ponte Academic Journal
Apr 2018, Volume 74, Issue 4

MARKETING AND ENTREPRENEURSHIP: THE APPLICATIONS OF RELATIONSHIP QUALITY CONSTRUCT

Author(s): Chukwunonso Oraedu ,Ubaka Johnson Ozo, Donatus Izuogu Eke, Ama Aka Udu

J. Ponte - Apr 2018 - Volume 74 - Issue 4
doi: 10.21506/j.ponte.2018.4.29



Abstract:
The underlying interface between Marketing and Entrepreneurship has been a subject of academic debate for years now. There abound many marketing concepts and principles that are yet to find its way into this cross disciplinary debate. Scholars argued that the understanding of marketing theories and concepts has the potential to inform entrepreneurs with respect to addressing many issues faced in their business survival and sustainability. So, bearing in mind that the interface between both disciplines is still far from theoretical maturity, we set out to argue the need to integrate the relationship quality construct into entrepreneurship activities. Using theoretical and empirical evidences from SMEs and big corporate enterprises we found relationship quality to be a potent tool for developing a competitive edge and accumulating value benefits. Specifically, we found relationship quality to be a precursor for customer retention, increase in profit, generating word-of-mouth and other positive marketing outcomes that would have been unavailable in short term exchanges. The study justified the need for entrepreneurs and intra-preneurs to deploy organization resources in building quality relationship network since without customers� patronage entrepreneurship venture can hardly survive. The implication of this study is the urgent need for entrepreneurs to incorporate relationship building strategies in their entrepreneurship activities. Finally, the study recommends that constant periodic review of customers� relationship quality perception be undertaken to give up-to-date information on developments and changes that occur in customer behaviour across times.
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