Developing business relationships

Developing business relationships

1. Relationship between buyers and sellers

   • Transaction based
     • Focused on making the sale.
       • The manufacturers don’t take the time to build a relationship.
   • Relationship based
     • Focused on long-lasting relationships
       • It must infiltrate every level of contact with a current or potential customer, from the sales staff to point-of-sale displays to customer service representatives

2. Relationship building

   • Awareness--The company and the client must identify and qualify the potential outcomes and prospects of the relationship.
   • Exploration—The Company and the client must analyze the costs and benefits of collaborating with each other, in order to satisfy their needs and capabilities.
   • Expansion--The relationship between the company and the client deepens.
   • Commitment—Both parties deepen their relationship by sharing information, goals, interests, etc.. Focus on achieving mutual benefits.
   • Dissolution- This phase may or may not occur. If it occurs the relationship between the parties is over.