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What is transactional marketing?

Updated: 9/11/2023
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16y ago

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"Transaction is a trade between two parties that involves at least two things of value, agrees upon conditions, a time of agreement and a place of agreement"

The process of transaction is …..

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15y ago
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16y ago

There are a few terms that exist whenever a consumer completes a transaction. A few of these are "registration", "receipt", "reminders", "membership", "sold", "notification", "goals". Now, the tradition was to use these terms and others to act as the basis for marketing strategies, hence traditional/transactional marketing

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How marketing moved from transactional to relationship marketing?

Transactional marketing focused on the point-of-sale single transaction a company had with a customer, trying to increase each sale individually. The problem with transactional marketing was that it was short sighted and did not help build a relationship with the customers. With the implementation of social media and online advertising, companies switched their focus to relationship marketing which served their longer-term goals of generating a customer base that searched for their brand when shopping, not just the cheapest brands. Read here to learn more about the importance of branding: http://bit.ly/1jfnF5X


What is marketing Segmentation targeting?

Simply put, Marketing Segmentation is understanding your customer and putting them into categories or groups. In the past, marketers have used Demographic and Transactional data to segment. Once you have segmented, you can effectively target the messages delivered. The challenge has been the limitations on how many variations in a message can be effectively sent. In print media this is typically very few (but increasing).The number of message variables is practically infinite in Digital Marketing, which delivers both a new opportunity and challenge - to go beyond demographic, transactional and even psycographic data in segmentation. There are some interesting ideas here that relate to Social Media...


What is the difference between relationship marketing and transactional marketing?

Essentially, transactional marketing focuses on getting the customer to buy a certain product and walk away, whilst relationship marketing sees the sale as the first step in the building of a relationship. Transactional marketing, in the perspective of luring the customer for a one off purchase, focuses strongly on price and short term benefits and product performance, with limited service. Relationship marketing is all about generating repeated sales and customer interactions, thus focusing on bringing value to the customer, and assuring long term performance and service - all aspects of quality become major concerns. Relationship marketing brings customer centricity to the spotlight. This vision has implicit the fact that a customer does not buy a product, but instead buys a solution for a specific problem or need. By satisfying this need, a company has access to many other opportunities that the customer will have at some point. Thus, if the company can build a relationship with the customer - find out who he is, what these needs will be - , it will be able to gain a lot more than just a single sell. Two illustrative approaches to the relationship vs transaction approaches are Tesco and WalMart. Whereas Tesco tries to engage in relationship with it's local customers resorting to loyalty programmes and such, WalMart lives under the "If you want loyalty, get a dog" motto set by Sam Walton, and focuses on giving customers "every day low prices", regardless of any past interactions.


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How marketing moved from transactional to relationship marketing?

Transactional marketing focused on the point-of-sale single transaction a company had with a customer, trying to increase each sale individually. The problem with transactional marketing was that it was short sighted and did not help build a relationship with the customers. With the implementation of social media and online advertising, companies switched their focus to relationship marketing which served their longer-term goals of generating a customer base that searched for their brand when shopping, not just the cheapest brands. Read here to learn more about the importance of branding: http://bit.ly/1jfnF5X


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What is marketing Segmentation targeting?

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