Monday, February 17, 2020

Customer Relationship Management in the Business-to-Business Market in Assignment

Customer Relationship Management in the Business-to-Business Market in Brazil - Assignment Example Research has identified that development of trust in B2B marketing is imperative, especially when there is a cultural or geographical disparity between both partners (Moment 2001; Burkert 1994). Trust is the most critical value-added constituent in this business relationship. Companies that engage in B2B marketing, especially when working with international partners, must focus on establishing conviction and reliance in order to progress forward and experience the long-run synergies provided by successful partnership development. This report focuses on business-to-business marketing in Brazil, a country in which there are established hierarchies of business relationship development that actually do take into consideration the dynamics of interpersonal relationship development in order to build the necessary trust between partners. The report also focuses on the tangibles of customer relationship with Pfizer, an international pharmaceutical company operating in B2B environments. Pfizer believes that value-added activities are critical to establishing an appropriate customer relationship management system to ensure long-run sustainability of the marketing relationship. The majority of these activities include reliance on technology to support interactivity between trading partners. Vendors that have been pre-approved are granted access to Pfizer’s technology systems, allowing them to track their own invoice movements and also submit orders through Pfizer’s e-business website (Pfizer 2013). This not only adds convenience but sets the foundation for the vital trust required. According to Starnes, Truhon and McCarthy (2010) trust is only established over time and building this relationship is a cyclical process of reciprocal acts.  

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