Most beautiful places and cultures &Marketing business

1. Relationships: They are long-term mutually, satisfying relations with key parties- customers, suppliers, channels. The focus is to build lifetime loyal customers. Knowing customers and delivery of high customer value and satisfaction build relationships. They result in relationship marketing which ensures that customers remain as loyal customers.
2. Networks: They consist of the organization and its key stakeholders. They are the result of relationships.

Stakeholders consist of customers, suppliers, employees, technological partners, channel members, and advertising agencies. The organization has mutually beneficial relationships with them. Today, the competition is between marketing networks, not between the companies.

3. Supply chain: Supply chain is a value delivery network. Each party in the chain creates a higher value for the other party involved in the chain. In return, a part of value created is retained as profit by each party.

Supply chain directs marketing efforts at maintaining backward linkages consisting of relationships with the suppliers of raw materials, technology, finance and semi-finished products. Mutually beneficial relationships are built with key stakeholders to capture the value generated by the supply chain.

We know that, marketing is demand management. It stimulates demand for products. In marketing different activities are done such as pricing, promotion and exchange of ideas, goods and services etc.

Exchange is the total process of obtaining a desired product from someone by offering something of value in return. Exchange is the essence of marketing. It is a value creation process.
Five conditions should be satisfied for exchange to take place:
1. Two or more parties should participate (buyer and seller)
2. Each party must have something of value that the other party desires.
3. Each party should be capable of communication and delivery.
4. Each party should be free to accept or reject the offer.
5. Each party should believe that it is appropriate or desirable to deal with the other party.

In this way in marketing more than two parties are involved to exchange something what they have. One party may have money and other party may have things to exchange with each other. They exchange goods from money, service from money or other goods. Without exchange marketing can not take place. So that, exchange has close relation with marketing.

Value, satisfaction and quality are interrelated concept. Because customers focus to value, quality and satisfaction while purchasing the things form the market. To be familiar about these concepts very well below is their details:

i) Value: It is the ratio between what the customer gets and what he gives. The customer gets benefits and gives costs. Product choice is guided by the value provided by the product.
• Benefits of customer may be functional and emotional
• Cost of products can be monetary, time, energy and psychic.

Marketing should provide value to the customers by raising benefits and reducing costs.

b) Satisfaction: It is the customer’s perceived performance from a product in relation to the expectations.

The customer is dissatisfied if the performance matches the expectations; delighted if the performance exceeds expectations. Marketing aims for total customer satisfaction by matching product performance with expectations.

c) Quality: Quality is perception of product excellence by customers. It is linked to customer need satisfaction. Organizations adopt the concept of Total Quality Management (TQM). They continuously improve the quality of their products for customer satisfaction. Everyone is committed and involved to satisfy customer needs though quality improvement.

A product may be any thing that satisfies a need or want of a man. Organization develops products for the target market. Products can be of following types:

a) Goods: Physical goods such as food, clothing, books, cosmetics, computer etc. They are tangible and touchable in nature. And they also can be owned by individual.

b) Service: Intangible activities that can not be owned or touched by individual is service. Some examples are computer training, hairdressing, bike repair, management consultancy and lecturing in classroom. Most goods also deliver services. Like a computer provides data processing service to the users.

c) Ideas: Ideas include concepts, philosophies, causes and issues. Basic idea like environmental protection, consumerism, human rights, equality of sexes and property rights to women etc.

d) Experiences: Experiences are also like a product. Experiences like climbing the Mt. Everest, rafting trip in river, balloon flying, cable car ride etc.

e) Events: Time-based events such as Olympic game, South Asian Federation games, exhibitions, artistic performance, conventions etc.

f) Persons: Person is related with celebrity marketing for political leaders, movie stars, artists and professionals.

g) Place: Specific location such as country, region, city or village to attract tourists, factories, offices, residents etc. An example is “Visit Nepal 1998”.

h) Properties: They are intangible rights of ownership. They can be land, house, share, debenture etc.

i) Organization: They are building of strong and favorable public image. Examples are: SONY- It’s ‘SONY’, PHILIPS- “Let’s make things better”. Hulas “Why buy others when Hulas is there”.

j) Information: Production and distribution of information by schools, universities, newspapers, magazines, internet, CDs etc.

Where, brands help the customer to identify products of different company or industry of different country.

Needs, Wants and Demand represents the language of marketing. They come under the core concept of marketing. They plays important role in marketing management. Because, by the help of these factors the marketing manager solves the problems related to marketing appeared in business organization.

Needs: Needs exist in the individual. They describe basic human requirements. They indicate a state of felt deprivation. Marketing does not create needs. They exist in the individuals automatically with the follow of time. Different people have different needs some of them are as follows:
• Physical needs: This types of need is related to food, clothing and shelter.
• Safety needs: Under this need, people want protection from physical harm and economic threat.
• Social needs: Under this need, they want love, friendship and belongingness.
• Ego needs: Under this need, they want status recognition and self-esteem.
• Self development needs: They want knowledge, achievement and creativity.

Wants: They are specific satisfiers of needs. Specific products satisfy wants. Marketing influences wants by offering various products. Wants are unlimited. Resources are limited. Customers want high value and satisfaction for money.

Demand: They are wants for specific products. They are backed by ability and willingness to buy. Wants backed by money and willingness to spend the money become demand.

Marketing is a combination of business activities lunched to plan, price, promote and distribute want satisfying things to specific markets to secure organizational objectives. Some features of marketing can be shown as follows:

This is the age of marketing. Marketing activities are part of everyday life of human beings. All types of organization need marketing to achieve their objectives. Marketing has gained a great deal of importance for the success of modern organizations.