500 word essay

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Describe how an exchange relationship strategy should work, in the context of marketing and customer relationships. Aproximately 500 words, backed up by research from outside sources, with examples to illustrate points.

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... must know what interactions are preferred by the consumer and what the unique dimensions within these preferences are. Finally, there is a need to develop interdependence among the exchange partners. Let us take an example of steel making plant that is attempting to introduce just in time techniques. The supplier of coal establishes an exchange relationship by monitoring the levels of coal and the production plan of the steel plant and sends in deliveries so that the inventories of the steel plant are minimized. The coal supplier also ensures that there are no stock-outs of coal at the steel plant. A relationship based on exchange is established.

In the context of marketing, the product of the company is modified to match the requirements of the consumer. For instance, that quality of plastic granules is modified so that they become suitable for strap making and this reduces the wastage of the strap making plant. Further, the prices of vegetables being supplied to a sauce making plant are held constant even though there are upward fluctuation of the tomato prices. In this case price is used as an exchange relationship strategy. Continuity in ...