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Knowledge Creation and Relationship Marketing in Family Businesses: A Case-Study Approach

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Knowledge, Learning and Innovation

Part of the book series: Contributions to Management Science ((MANAGEMENT SC.))

Abstract

In Bosnia and Herzegovina, family businesses operate successfully as the backbone of the countries’ economies. We also know that even successful firms differ widely in use of best management practice. Smaller, newer firms in less developed countries should benefit from exposure to best practice. To this end we offer provide and present the advantages of using one of the newest and most successful approaches in marketing, that of relationship marketing. This chapter presents the theoretical aspects of relationship marketing, the advantages of using it and its specifics. Furthermore, in this chapter we discuss how relationship marketing affects the business development on two family businesses from two disparate industries in Bosnia and Herzegovina. AS Group is a group, including food, trade and textile, whereas Pharmamed Ltd. operates in the pharmaceutical industry. Relationship marketing concepts and specifics explained in this chapter will not help only the owners of family businesses, but also, the non-family businesses, policy-makers and researchers who want to know more about advancing use of proven managerial practices in a transition economy.

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Notes

  1. 1.

    In 2004, under the Old Bridge in Mostar (BiH), during the jumps from the reopening of the famous Old Bridge after the war of 1992–1996, a total of 650 l of ‘Zlatnadzezva’ coffee had been made in the largest pot in the world and the citizens of Mostar drank 8000 cups of real Bosnian coffee. This was a world record of coffee made and drunk in the same time. For a single charge of a giant coffee pot takes about 65 kg of coffee. The largest coffee pot in the world was made in the summer of 2004 under the hammer of Bascarsija (Sarajevo) master Nasir Jabucar and his assistants. See URL: http://www.sarajevotimes.com/?p=103703 (Accessed on 02.08.2016).

  2. 2.

    In 2015, Bey’s soup (Begova čorba) was made from 6.00 A.M. by 50 chefs and voulonteers; its weight was 4.120 and was offered to thousands citizens of Sarajevo, as well as tourists who were very glad to be part of the biggest ever made soup that entered in the Guiness World Record book. See URL: http://www.slobodnaevropa.org/a/begova-corba-za-ginisa/26962999.html (Accessed on: 02.08.2016).

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Authors and Affiliations

  1. Faculty of Business and Economics, South East European University, Tetovo, Macedonia

    Veland Ramadani

  2. International Trade Support Service, Tetovo, Macedonia

    Lutfije Ademi

  3. La Trobe Business School, La Trobe University, Melbourne, VIC, Australia

    Vanessa Ratten

  4. International University of Sarajevo, Sarajevo, Bosnia and Herzegovina

    Ramo Palalić

  5. Dhofar University, Salalah, Sultanate of Oman

    Ramo Palalić

  6. Center for Management and Entrepreneurship, School of Advanced Studies, University of Phoenix, Phoenix, AZ, USA

    Norris Krueger

  7. Entrepreneurship Northwest, Boise, ID, USA

    Norris Krueger

Authors
  1. Veland Ramadani
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  2. Lutfije Ademi
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  3. Vanessa Ratten
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  4. Ramo Palalić
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  5. Norris Krueger
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Correspondence to Veland Ramadani .

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Editors and Affiliations

  1. La Trobe University , Melbourne, Victoria, Australia

    Vanessa Ratten

  2. Polytechnic Institute of Porto , Porto, Portugal

    Vitor Braga

  3. University of Trás-os-Montes and Alto Do , Vila Real, Portugal

    Carla Susana Marques

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Ramadani, V., Ademi, L., Ratten, V., Palalić, R., Krueger, N. (2018). Knowledge Creation and Relationship Marketing in Family Businesses: A Case-Study Approach. In: Ratten, V., Braga, V., Marques, C. (eds) Knowledge, Learning and Innovation . Contributions to Management Science. Springer, Cham. https://doi.org/10.1007/978-3-319-59282-4_9

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