Belk On Business

Relational or Transactional Business Model – Belk on Business – Episode 136 - Evaluation of business model and core values – all decisions in business from what we do to why we do it to with whom we work should filter through core values - A transactional business model is built on the short term. It is a model that the business does whatever it takes to make a sale many times neglecting what the customer really wants or needs. A transactional business model is focused purely on profit resulting in poor relationships with customers, employees and vendors. They advertise and market consistently. - A transactional business model works best if price is the main decision point of the prospective buyer. When a customer is purchasing mostly on price, they will generally return. A relational business model is broader as to its approach and focuses more on overall customer satisfaction and experience. - A relational business model starts with a goal of building a long-term relationship with the client by determining