Relationship marketing has gained popularity in the recent past as an approach to developing bonding with individual constituents of the value chain of a firm operating in an industry. This article examines this phenomenon in some measure of detail, keeping the time-horizon as an important element of the study.

Marketing is a field flooded with definitions. There is no one perspective about marketing. With the passage of time, the concept has evolved as a parallel to the changes in the environment. However, to give a general idea of the term, it can be said that marketing involves not just products changing hands or the monetary exchange that follows it. It is considered as the backbone of any organization and covers the whole gamut of activities ranging from identifying the need(s) in customers' minds, coming up with products and services to fulfill those needs and thereby adding value not only to customers but also to the organization. The prime objective being profit-making, businesses have to function in a manner that they utilize opportunities in the best possible way such that the benefits accruing in the process extend into the long run.

Relationship marketing is about having an indirect conversation with the customers through analyzing and modifying their behavior over time, thereby strengthening the bond between the customers and the company. It treats marketing as a process over time than as unconnected events. The concept has to do with making investments of time, attention and money for giving satisfaction to customers, such satisfaction being affordable and profitable. The secret lies in not taking the customers for granted but in maintaining continuous communication with them.Relationship marketing may take different perspectives, be it a narrow marketing perspective or a broader view that stretches beyond what is simply defined by marketing.

Relationship marketing, individual constituents, firm operating in an industry, time-horizon, Marketing, monetary exchange, customers' minds, profit-making, businesses, indirect conversation, customers, unconnected events, investments of time, attention and money, satisfaction to customers, affordable and profitable, continuous communication, marketing perspective.