33Br
Column 11 · Relationships and Customer Equity · Era 3, Competitive Advantage (1980s)
Buyer-Seller Relationships
Implementation, process · Landmark · Cluster IV, Customer and Brand Assets
Description
They contrasted discrete transactions with relational exchange and modeled relationship development through phases of awareness, exploration, expansion, commitment, and dissolution.
Managerial Implications
Business relationships develop through stages, from awareness and exploration to expansion and commitment, and can dissolve at any point. Manage accounts according to their stage: new relationships need trust-building and small wins, mature ones need investment in joint value and attention to signs of decline. Treating every account the same wastes effort on some and underinvests in others.