Trust in Transactional and Relationship Marketing: Implications in a Post-CrisisWorld
AbstractThe financial crisis, which began in America in mid-2007, developed into a deep and protracted recession with associated negative social dimensions. One of the causalities has been trust, specific and generalized, in marketplace transactions. This theoretical paper considers instrumental and symbolic value associated with social exchange. It examines the nature and creation of trust, reciprocity, and wariness. Marketing practice is now understood to take place within a pluralistic marketplace in which both transactional and relational perspectives have assumed greater strategic clarity. This paper considers the likely impacts of a decrease in trust on buyer and seller expectations and the consequences for transactional and relational marketing dynamics. Suggested reconsiderations and realignments of strategic marketing are considered.
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Bibliographic InfoArticle provided by University of Primorska, Faculty of Management Koper in its journal Managing Global Transitions.
Volume (Year): 9 (2011)
Issue (Month): 2 ()
Find related papers by JEL classification:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- M31 - Business Administration and Business Economics; Marketing; Accounting - - Marketing and Advertising - - - Marketing
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- Matevž Rašković & Maja Makovec Brenčič & Barbara Moerec, 2011. "Trust and management-to-employee communication in Slovenian companies: Some evidence from the current economic crisis," Tržište/Market, Faculty of Economics and Business, University of Zagreb, vol. 23(2), pages 165-187.
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