RELATIONSHIP MARKETING AND MANAGING VALUE DELIVERY TO CUSTOMERS

The purpose of this article is to analyse current literature and theoretical point of views about appropriateness of traditional and relationship market-ing in hypercompetitive environment of mature markets. Review of literature provides insights into main characteristics of different schools of thought about relationship marketing. Conceptual framework of value creation and delivery to customers is exhibited. Three schools of thought and a number of different conceptual/research models for managing customer satisfaction are found. Research models for identifi cation key areas for improvement of customer satisfaction are prerequisite for managing customers’ loyalty and retention. Topic is actual and interesting for practitioners since traditional marketing approach is getting less effective and general model of relation-ship marketing has not been defi ned yet. Directions for further research are suggested. On academics, researchers and practitioners are challenges of adjustment and improvement of existing models to specifi c business situa-tion, to unique purpose, customers and contexts, as well as further search for general model of relationship marketing.