Transactional Marketing versus Relationship Marketing - Literature review Example

The paper "Transactional Marketing versus Relationship Marketing " is an outstanding example of a marketing literature review. Relationship marketing and transactional marketing are two contrasting marketing concepts that help to define marketing in the modern world. Although similar in several ways, these two classes of marketing diverge on a number of key and important issues which will be analyzed and discussed within the space of this literature review.The essence of this discussion is to examine the changing dynamics in marketing within the modern media.

Core marketing theories in modern business communication have culminated in a conflict between transaction marketing and relationship marketing. The conflict relates to which of the two is the correct model for the development of modern marketing.This literature review will also include a critical examination of important documents and secondary sources that describe the elements and structures of modern business and marketing. The research will critique the two methodologies and approaches to marketing and identify how they interact with one another.

As such, it is the hope of this author that such an analysis will help to continue to identify the gaps in research and provide guidelines and implications for further practice.MarketingThere are numerous angles through which the concept of 'marketing' can be examined. Marketing is a common business unit that almost all businesses maintain. The common conception of marketing is that it exists as a function of helping a business to sell its products to the consumer. However, there are different angles through which the concept of marketing can and should necessarily be examined.

“Marketing covers the activities that relate the organization to those parts of the outside world that use, buy, sell or influence the outputs of products and the benefits and services it offers” (O'Shaughnessy, 2011, p. 4). This definition lends credence to the understanding that marketing is a unit of a business that links up with the external stakeholders who have the obligation of unleashing and presenting products to consumers.