Business Models for Strategic Innovation

9Relationship marketing and entrepreneurial innovation

A B2B context of stakeholder relationship management

Hasina Idris and S. M. Riad Shams

Introduction

Relationship marketing (RM) as a stakeholder relationship value-centred approach of the contemporary marketing practices ensures the mutually beneficial stakeholder relationships and interactions, while the stakeholders work interdependently toward reciprocally advantageous multifarious goals. Incorporating the traditional 4Ps, RM extends a long-term commitment and relationship bond among the associated stakeholders/business partners to nurture the mutually beneficial stakeholder relationship value, with the aim of innovating further product/service value for customers and share that innovated/enhanced ...