Psychic Businesses

Thesis Statement

As we know psychic distance is an important concept that has been successfully applied in context of relationship management with special focus on cross-cultural businesses.

Summary

Psychic distance forms a crucial element of relationship marketing strategy in international marketing. Relationship marketing (RM) theory when transferred from a domestic to an international context can lead to the emergence of various factors which may hinder the development of cross-cultural business relationships. This paper investigates the elements of business relationship development and the influence psychic distance has on this process.

Tuten and Urban (2001) assert critical factors that define successful business relationships are the amount ...