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Market competition refers to many companies engaged in satisfying the same customer need. For example, copying need can be satisfying by carbon paper, stencil paper, computer printer, and photocopies. Market competition can be:

A) Product Class: It is a group of homogeneous products which are substitutes for each other. For example, breakfast products can be cornflakes, chiura (bitten rice), bread, and sausage. They compete with each other.
• Generic Competition is among unbranded products. They compete for purchasing power of customers.
B) Brands: Brands identity products and sellers. They can be a name, sign, symbol, or design. They differentiate a product from competitor’s products. Brand competition is similar brands competing with one another. For example, coke with Pepsi, waiwai, and manyos.

C) Price and Non-price: Price competition involves lowering and raising prices. Non-price competition is based on product, place, and promotion. It is used for product positioning. It describes how a brand differs from competing brands in the perception of cutomers.

Opportunity is a favorable condition in the environment. It enables marketing to consolidate and strengthen its position. It is an important factor in shaping market strategy. Good marketing is the art of finding, developing and profiting from opportunities.
Opportunity is located in the external environment. External environment consists of conditions and forces outside the marketing. They influence performance and outcomes of marketing. The forces are political, legal, economic, social, cultural, and technological. They cannot be controlled by marketing1. However, marketers need to spot opportunities in these forces.
Market is the source of opportunity. Marketing managers must understand market opportunities. They are determined :

a) Target Market: the market is divided into segments consisting of homogeneous groups of customers who share similar needs and characteristics. Attractive segments are chosen as target market after careful evaluation. They are potential buyers of company’s products.

b) Market Requirements: they are needs that customers want fulfilled by using the product. They can be functional, service and emotional benefits. Functional benefits are derived from features, advantages, and benefits from product. Service benefits are derived by support services offered along with the product. Emotional benefit is derived by ownership and use of brand.

c) Market Development: It is done through market promotion programmes. The buyers are made aware about the product and its benefits. Competition also helps to bring awareness about product among buyers. The brand is effectively positioned.

d) Market Size: It refers to the amount of sales volume. It is number of customer multiplied by quantity of purchase during a specified period.

Demand is want for specific product backed by purchasing power and willingness to spend. A market is the set of all actual and potential customers of a product with demand. Demand analysis is the basis of most marketing decisions. Market can be:

a) Potential Market: It is size of market with set of customers having sufficient level of interest in a product. They have prospect of buying the product. Marketing can stimulate demand in potential market.

b) Available Market: It is size of market with set of customers who have interest, income and access to a product. It represents demand for a product in all segments of the market.

c)Target Market (Served Market): It is size or segments of the available market selected to be pursued. It represents demand for a product in chosen segments of the market. It is served by the company.

d) Penetrated Market: It is set of customers who are actually buying a product. It is size of market reached by the target market.

The features of marketing information system are:

a) Inter related components: Marketing information system is a set of inter-related components. They consist of people, equipment, and procedures. Computer hardware, software, and information communication technology is used to design and deliver it.

b) Processing: Marketing information system collects, processes, analysis, stores, retrieves, and disseminates information for decision marketing and control. Its output consists of various reports.
c) Timeliness: Marketing information system provides right information to right people at right time. Information if received late has no use.

d) Accuracy: Marketing information system provides accurate and reliable information. Past and present information are more accurate than future forecasts. It also provides complete information.

e) Consistency: Market information system provides consistent information. All data is based on same definition, assumptions, and time period.

f) Accessibility: Market information system is easily accessible. The information is properly secured. But it is easily available to authorized persons. Information communication technology has facilitated accessibility. It also avoids information overload.

The marketing intelligence system provides information about everyday happenings in the marketing environment. It is based on environmental scanning.
The Sources of marketing intelligence are:

a) Marketing Managers: They read books, newspapers, and trade publications. They talk with customers, suppliers distributors and personnel within the organization to gather information.

b) Sale Force : They spot and report new developments in the market place. Organizations train and motivate them for marketing intelligence purposes.

c)Middlemen: They handle several products and usually know in advance about competitor's moves. They can provide vital market information.

d) Specialists:They are appointed to gather market intelligence. They even pose as "mystery shopper" to assess how employees treat customers or how compositors price their products.

e) Outsourcing: Commercial detectives are hired to gather specific information. Data can be purchased from research firms which specialize in supplying information at low cost.

f) Marketing Information Section: Organizations can establish a Marketing Information Section for marketing intelligence. It formally scans the environment to gather information. It also surfs
the internet to gather data.

This is the age of competition. Marketers must carefully identify and analyze their competitors. Competition can be in terms of brand, product-class, generic and geographic. Competition is a threat to the firm.

A competitor is a firm in the market selling a product which is perceived as substitutable by buyers. Competitor analysis describes the competitors, evaluates the competitors, and anticipates the future actions of competitors.
Sources of competition can be:

1. Lack of entry barriers: There are no entry barriers. This allows many firms to enter the market and deal in products which are substitutable.

2. New technologies: Research and development makes new production processes and technologies possible. They lead to product innovations. New products compete with old products.

3. Information technology: This has facilitated direct marketing through e-commerce. Internet and websites have increased competition.

4. Customer needs and preferences: Changing customer needs and preferences facilitate competition.

5. Environment forces: Changing environmental forces encourage competition. They can be political, legal, economic, and socio-cultural forces.
Competitor analysis helps marketing:
• Avoid surprises. It helps to identify opportunities of competitive advantage and avoid threats. Surprises are avoided. Better planning can be done.
• Gain competitive advantage. Competitive advantage can be gained over rivals by gaining knowledge of their strengths and weaknesses. Superior value can be provided to customers.

Research is systematic gathering of information. Marketing research is a systematic inquiry undertaken to help resolve a specific marketing problem. Its purpose is to guide marketing decisions by generating information. It provides alternatives for making the choice. It is a tool for identifying market opportunities to formulate market strategy and to minimize threats. It is problem-oriented.

Features of marketing research are:
a) Systematic: Marketing research is a systematic step-by-step process. It is properly planned and implemented.

b) Objective: Marketing research is unbiased. It is objective in collecting, analyzing, interpreting and reporting data.

c) Problem-oriented: Marketing research deals with specific marketing problems.

d) Decision Making: Marketing research helps make timely marketing decisions.

Most large organization have their own marketing research department. Small organizations can buy the services of outside marketing research firms. Organizations generally budget 1 to 2 percent of sales for research. The areas for marketing research are various in type.

There are six stages in the organization buying process:

4. Proposal Evaluation : Proposals are invited from suppliers. They can be based on
competitive bidding. Tenders and quotations may be used. They also can be separated into
technical proposal and financial proposal. The proposals are evaluated to determine
whether the products meet performance specifications. Suppliers are evaluated for
capability, and service. Committees may be used for evaluation.
5. Purchase Decision: The supplier is selected. Negotiations are made. An order is placed.
Several suppliers may also be used. Specific details regarding terms of sale, credit
arrangement and technical services are worked out.

6.Post-purchase Behavior: The performance of product and supplier is evaluated at this
stage. Actual performance is compared with specifications. If the performance is not
satisfactory, repeat orders are not placed with the supplier.

Marketers need to understand buyer behavior at each stage of the organizational buying
process.

Organizational behavior refers to the to the buying behavior of organizations that buy products for business use, resell or to make other products.

Organizations consist of business, industries, retailers, government, and non-government organizations.

The supplier driven Nepalese market generally practiced mass marketing approach with product variations in the past. The socio-economic changes and developments in transport and communication system have made Nepalese marketers conscious of market segmentation. The marketing strategies of global organizations like Coca Cola, Pepsi, Nepal Lever and Standard Chartered Bank have reinforced this consciousness.

The following points describe the practices of market segmentation in Nepal.

1: Non-systematic: Segmentation is generally not based on systematic market research. Past experiences, hunches of management, and competitor's strategy have influenced segmentation.

2: Variables for Segmentation: The variables mostly used for consumer market segmentation are:

3: Lack of Information: Nepalese marketers lack comprehensive information about consumer characteristics. They tend to regard marketing research as a "wasteful cost". This has constrained the effective evaluation of market segments in terms of their attractiveness and appropriateness. Risks are not properly assessed.

4: Government Policies: Government policies in Nepal are not very supprotive of marketing. They do not regard businessmen as partners for development. Restrictions of movement of goods and controls have discouraged market segmentation.

5: Lack of Ethical Considerations: Environmental and welfare considerations are generally disregarded for market segmentation in Nepal.

The above points clearly indicate that the concept of market segmentation is at an initial stage in Nepal. However, the importance of market segmentation is likely to increase in the years to come.

Consumers make decisions. Their buying decisions are influenced by economic, personal, psychological and socio-cultural factors.

Economic factors that affect buying decisions. They consist of:

a) Level of income: The ability to spend is determined by the level of disposable income. Choice of income-sensitive products is very much dependent on income level.

b) Liquid Assets: Consumers who do not have regular income may possess liquid assets like gold and shares. They provide spending power to the consumers.

c) Savings, Debt and Credit Availability: They all affect consumer expenditure levels. High savings result in lower interest rates. Credit availability by bank becomes cheaper through lower interest rates. This increases the level of consumer spending.

d) Attitude Toward Spending: Negative attitude toward spending adversely affects the willingness of the consumers to spend. This influences the product choice.

e) Economic Conditions: The stage of economic development, inflation and business cycles affect consumer's willingness to spend. Prosperity is good and recession is bad for marketing. Health of the economy affects consumer behavior.

Personal factors consist of:

a) Age: Consumers buy different products according to age group. Their taste in food, clothes, and recreation is age-related. Young consumers like to experiment new products. Older consumers prefer brand loyalty.

b) Gender: Male and female exhibit differences in buying behavior. Their needs also vary.

c) Family size and family life cycle: Family size determines the level of expenditure and product choice. Buying decisions in larger families favour brand loyalty.

The family life cycle influences spending patterns. Product interests differ according to the stage in family life cycle consisting of singles, bachelors, married, married with children and old.

d) Occupation: Occupation influences consumption pattern. Factory worker buy work clothes. Bank managers buy expensive suits. Professional people dress properly.

Segmentation variables are used for dividing a total market into segments. Selecting appropriate variable is an important decision of marketing segmentation.

Consumer market consists of individual and households. They are ultimate consumers. The reasons for buying products are personal use or household use. Most products in consumer market are branded. Marketing is targeted at segments of consumer. The product is backed by attractive packaging and promotion. After sales services are provided.

The characteristics of consumer market are:
a) Focus: The focus of the market is individual and households. They are carefully targeted. They are carefully targeted. They are geographically dispersed.

b) Consumption: The consumers buy products for individual or household uses. They consume the products to satisfy their needs. The demand is generally elastic.

c) Branding: The products have a brand image. They are creatively positioned in the market.

d) Packaging: The product is attractive packaged.

e) Promotion: The product is backed by distribution networks, promotion and reliable after-sales services.

f) Demand: The consumers buy products in small volume.

g) Emotion: Most buying is emotional by consumers. They buy if they like.

Segmentation is based on:
a) Single variable segmentation: Only one variable is used to segment the total market. For example income.
b) Multi-variable segmentation: More than one variable is used to segment the total market. For example income and gender.

Segmentation variables for consumer markets can be:

Market segmentation should not be based on guesses and hunches. It should be a systematic process consisting of the following steps.

1. Market Survey/ information Collection: Segmentation requires a thorough investigation of the total market characteristics. Marketing survey is conducted for this purpose. Information is collected on the following aspects:

2. Segment Identification: Detailed analysis of the information collected from the market survey is done. Appropriate statistical tools are used to make the analysis.

Factors affecting product demand are classified into major and minor factors. The major factors are further analyzed in relation to: i) buyer need, ii) buyer characteristics.

Homogeneous groups of customers are clustered to identify segments. Cluster analysis tool can be used for this purpose.

3. Segment Profiling: The variables for segmentation are identified. They can be geographic, demographic, psycho graphic, and behavioural. They vary according to the type of market.

Each segment is profiled in terms of similarities and dissimilarities in demand and characteristics of customer groups. When this process is completed, the organization has identified segments. They represent micro markets.

4. Segment Selection: From different segments, Organization select one or more segments after careful evaluation. The chosen segments become target market.

5. Product Positioning: Last process of market segmentation is product positioning. Positioning is a new thinking in marketing. Marketers should position and reposition their products to satisfy the needs of the customers. Each product should be distinctively positioned in the mind of consumers.

The requirements for effective market segmentation are as follows:

a) Measurable: The size, needs, purchasing power, and characteristics of the customers in the segment should be measurable. Quantification should be possible.

b) Divisible: The segments should be differentiable. There must be clear-cut basis for dividing customers into meaningful homogeneous groups. They should respond differently to different marketing mixes. There should be differences in buyer's needs, characteristics and behaviour for dividing in groups.

c) Accessible: The segment should be reachable and serviceable. It should be accessible through existing marketing institutions, such as distribution channels, advertising media and sales force. There should be middlemen to distribute the products.

d) Substantial: The segment should be substantial. It should be large enough in terms of customers and profit potential. IT should justify the costs of developing a separate marketing mix.

e) Actionable: It should be actionable for marketing purposes. Organizations should be able to design and implement the marketing mix to serve the chosen segment.

We know that, there are different sorts of market segmentation. Some of them are described as follows:
1. Target Marketing:
The total market is viewed as consisting of heterogeneous customer groups. They have various characteristics. The market is divided into major market segments. One or more of those segments are selected as target. Marketing mix is tailored to each segment. This is based on new marketing concept.

2. Niche Marketing :
A niche is a more narrowly defined group of customers. It is identified by dividing a segment into sub-segments. Marketing mix is tailored to the niche. Niches are fairly small groups whose needs have not been well served. They are willing to pay higher prices.

3. Local Marketing:
The marketing mix is tailored to the needs and wants of local customer groups. They can be localities or stored in local area. For example, New road in Kathmandu Nepal.

4. Customized Marketing:
The market is viewed as consisting of individuals with distinct needs and characteristics. Marketing mix is tailored to each individual. Tailor-made clothes and individually designed houses are examples. Business-to-business marketing is largely customized. This is based on customer concept of marketing.

The market is viewed as consisting of individuals with distinct needs and characteristics. Marketing mix is tailored to each individual. Tailor-made clothes are individually designed houses are examples. Business-to-business marketing is largely customized. This is based on customer concept of marketing.

A Market consists of customers. They have needs to satisfy, money to spend and willingness to buy products. No product can satisfy the needs of all the customers in the market. Customers vary in needs, characteristics, buying behaviour, purchasing power and preferences.

Market can be divided in following manners:
1. Consumer Markets: The reasons for buying products are own personal or household use. They consist of ultimate consumers. Most products are branded for this market.

2. Business Markets: The reasons for buying products are business use, resell, or to make other products. They consist of industries, business, retailers, etc. Buying is done by professionals.

Market segmentation is the process of dividing the total market into large homogeneous groups of customers who share similar needs and characteristics.

Segmentation implies:

We know that, quality is perception of customers towards products either it is good or excellent. Product should be good in quality. Then it can attracts to the customer globally. So that, organization should produce quality products for establishment in the competitive world. It is necessary in a organization. And here is some requirements for total quality marketing:

Quality is perception of product excellence by customers to satisfy needs. Improving product quality has become a top priority for marketing. There is an intimate connection between total quality marketing and profitability. Total quality marketing leads to customer satisfaction. Customer satisfaction leads to profit achievement by the organization.

The dimensions of quality can be:

Quality is the totality of features and characteristics of a product that bear on its ability to satisfy needs.

Total quality marketing refers to the adoption of total quality management (TQM) concept for marketing. It serves as the key to value creation and customer satisfaction.

Total quality management is continuously improving products quality through everyone's commitment and involvement to satisfy customer needs.

In Marketing, relationship management is very much essential. Because no tasks of marketing can be done without good relation with related sectors. Here are some strategies to build relationship in marketing:

1. Quality Assurance:
Marketers promise and deliver high quality products at fair prices to customers. This promotes long term loyalty and relationships. Consistence and conformance to standards if ensured for quality.

2. Economic Benefits (Financial Benefits):
Strong economic ties are built with customers. This can take the form of:
a) Frequency marketing programme: Key customers who buy frequently are given attractive discounts and rewards. Generally 20% of customers account for 80% of the sales.

b) Club Membership Programmes: Club membership is given to customers. Attractive discounts and other benefits are given to the members. Book club is an example.

3. Social Benefits:
Organizations increase social bonds with customers by:
a) Individualizing and personalizing customer relationship. They provide social recognition to the customer.

b) Organizing customer get together to meet and enjoy each other.

4. Technical Benefits:
Organizations develop technical ties with their key customers. Such ties are mostly technology based. They help the customer to better manage their marketing efforts. They can be:

Relationship management involves customer development. So that, customer development and relationship management have close relation with each other. The customer development process consists of the following steps:

- Prospects: People who have interest in the product and ability to pay for it; they are likely to buy the product.
-First Time Customers: Prospects who buy a product for the first time. They can be defectors from other brands.
- Repeat Customers: First time customers who repeatedly buy the product. They experienced satisfaction with first time purchase.
-Clients: Repeat customers who are treated specially and knowledgeably by the organization. They are loyal and satisfied customers.
-Members: Clients who join membership programme to take advantage of benefits.
-Advocates: Members who enthusiastically recommend the organization and its products to others.
-Partners: Advocates and the organization work together activity for mutual benefits.

Relationship management aims to convert the prospects into partners. It is partnership marketing where organizations and customers work together to discover ways to build mutually satisfying relations.

Relationship management has been driven by technology, especially the web technology based on internet. Investment in time and money to build customer database is also important for relationship management.

Relationship management is building long term mutually satisfying relations with customers. It aims to earn and retain their long term loyally. The customer is regarded a partner in creating value. It involves knowing the customerand delivering high customer customer value satisfaction. It is a method to retain custoers by building one-to-one relatinships.

Relatinship management is a long term partnership between marketer and customer. Both parties collaborate for identifying needs and developing and updating marketing mixes to satisfy needs. It creates customer loyalty to ensure that customers return time and time again.

In this way relationship management in marketing is building good relation between all related aspects of marketing in business organizations.

In the daily life, organization should track and monitor customer satisfaction. The following methods can be applied for tracking customer satisfaction.

Complaint and Suggestion System: Customers are encouraged to make suggestions and complaints. Hotels provide printed forms to guests for this purpose. Web pages and e-mail is used to facilitate information flow.
· This method provides good ideas. Problems can be resolved quickly. However, not many customers like to complain. They just switch brands.

Customer Satisfaction Surveys: Periodic surveys of customer opinions are conducted. Questionnaire or interview is used to conduct the surveys. Customer views can also be asked about competitor’s preformace.

· This method involves customers to get information. But it is costly and time consuming.

Ghost Shopping: Mystery shoppers are hired by the organization who poses as potential buyers. They report strong and weak points experienced in buying the products.
Lost Customer Analysis: Customers who have stopped buying or switched brands are contacted to learn about the reasons for their behavior. Exit interviews can also be conduct from such customers. Increasing customer loss rate is an indication of customer dissatisfaction.
* High performance organizations have customers with high satisfaction. They create and deliver customer value and satisfaction. They deliver total customer satisfaction to delight the customers.

While entering in global market we may face different types of difficulties. So that it is very difficult to enter and adjust in global market. Some barriers to global market entry are as follows:

1. Political Risk: Political instability resulting from changing government policies, civil disorder and terrorism can create high political risk. This becomes a barrier to global market entry. Nationalism can also restrict global market entry.
2. Entry Barriers: Control over market entry serves as a barrier. It can be due to reservation for local nationals, local content requirement and balance of payment problems.
3. High Costs: High costs for factors of production serve as barrier to market entry. It reduces competitive advantages. High costs of logistics also serve as a barrier to global market entry.
4. National Barrier and Controls: In national barrier, tariff barrier while exporting and importing as border charges and fees serve as para tariff barriers, non-tariff barriers as subsidies, procurement policies, anti-dumping provisions and bureaucratic barriers, and controls as quality control such as quotas, exchange control which restrict flow of foreign currency affect global market entry.
5. Cultural Differences: Differences in values, attitudes, customs and other cultural factors can be barriers for global marketing entry.
6. Management Myopia: Ethnocentric mangers may see similarities between foreign country and home country. Polycentric mangers see foreign countries as unique in differences. Geocentric mangers see similarities and differences. Geocentric managers see similarities and differences between home and foreign countries. Ethnocentric management style can be a barrier to global market entry.

This is the age of globalization. Where, trade is running globally in the world. So that, every company should go globally to achieve goal. Before going global, a company should consider the following factors:

Political Risk: It arises from political instability. Its sources can be change in government policies, civil disorder, agitation, terrorism and restrictions. It can lead to loss or nationalization of property.

Market Access: barriers to market entry limit market access. It can be due to reservation policy for nationals, local content requirements and balance of problems. The competition should be examined. Regional cooperation agreements should be considered.

Cost Structure: It is the costs of factors of production, such as land, labour, capital. Wages rates and tax conditions are important considerations. Economics of scale should be possible.

Logistics: This includes storage, handling, inventory management and transportation. Logistics cost are important considerations for market entry. Infrastructure in host country should be adequate in term of power, transport, communication, servicing facilities and good governance.

Foreign Exchange Regime: Exchange risk resulting from changing rated and control procedures need to be considered.

Marketing programme: The marketing programme for global market should be carefully considered. It should be adapted to local environment.

Holistic marketing concept focuses on all matters related to marketing. Some of them are as follows:

It uses integrated marketing to meet customer needs.

It uses relationship marketing to develop lifelong relations with customers.

It uses internal marketing to make members of organization customer-oriented.

It practices societal marketing to promote consumer and societal welfare.

It uses performance marketing to ensure profitability from marketing efforts.

Customer Value:

Customer value is the ratio of benefits to costs. And the benefit is what the customer gets. It can be functional and emotional. Whereas cost is what the customer gives, pays or spends. It can be in term of money, time, energy and psychic.

Holistic marketing captures customer value. It delivers a high level of quality, service and speed to customers. It means its aim to provide good satisfaction to the customers. It helps to achieve profitability by:

Expanding customer share: Customer share increases.

Building customer loyalty: Loyal customers increase.

Capturing customer lifetime value: It is captured through relationship management.

The modes of entry in global market can be described as follows:

Export: It is selling domestic products to foreign countries. It is executing orders received from foreign countries. They can be received direct or through middlemen. Where, export helps to increase sales volume. Economics of scale can be reaped. However, it caves logistics, procedural, servicing and market promotion problems.

Licencing: It is contractual mode. The foreign company is allowed to use brand name or technical know how for a fee or royalties. Franchising is an example.

· It requires little investment. The returns are attractive. But the licencee can turn into a competitor.

· Management contracts and turnkey projects also provide entry.

Joint Venture: It is ownership sharing in foreign countries. It can be an assembley operation where technology and component parts are supplied. It can involve transfer of management know-how and marketing skills. Foreign direct investment is involved.

Foreign Direct Investment: It involves establishment of a subsidiary. A new company is started or an existing local company is acquired. There is full ownership and total control over operations. Multinational companies use this modality.

Market accessibility is ensured. Barriers and restrictions can be avoided. However, profits may not occur in the short run.

Globalization is a process that promotes:
Economic interdependence of all the countries in the world.
Integration of national economics into one global economy.
Free movement of products across boarders. World becomes a single market with no trade barriers and control regime.
Global free flow of capital, labour, management and technology across borders.
Extensive use of information technology and communication networks.

Global marketing consists of marketing activities conducted across borders. It operates in a dynamic global environment composed of political, economic, socio-cultural, financial and technical forces. Global market and the customers differ from country to country. So do environmental forces and business culture.

The essence of global marketing is:
Creation of Value: Value is created for global customers. Value is the ratio of benefits to costs. Value can be created by increasing benefits and reducing costs. Price advantage is important in global marketing.
Competitive Advantage: It is gained by making marketing officers that are more attractive than competitors in foreign markets. Marketing mix consisting of a combination of a product, price, place and promotion represents marketing offer.
Maintaining Focus: It is concentration of attention on customer needs and wants in a target market. Successful global marketers need to think globally an act locally. They plan, operate and co-ordinate activities on a worldwide basis.
Market Positioning: Positioning describes how a brand differs in relation to competing brands in the minds of global target customers. It happens in the mind of the customers. It is done after selecting the global target market.

Global marketing should carefully identify key distinctive competitive advantages of product for positioning. They should be effectively communicated to target customers. Distinctive competitive advantage is doing things better than competitors.

The focus of this concept is that everything matters in marketing. It integrates the new concept with the societal marketing concept. Integrated marketing is used to meet customer needs. Relationship marketing is used to develop lifelong relations with customers. Internal marketing is used to make all members of the organization customer-oriented. Social responsibility is practiced to promote consumer and societal welfare. Performance marketing is practiced to ensure financial accountability in profit terms.

The holistic marketing concept has the following features:

The starting point is the target market.
Focus is given to all matters related to marketing. Any one aspect of marketing is not given too much attention.
The means for marketing are:
· Integrated Marketing: It is practiced to efficiently and effectively utilize marketing resources. All marketing matters are put under the marketing department.
· Relationship Marketing: It is practiced to develop mutually satisfying long-term relationships with customers to retain them. They become satisfied and lifelong loyal customers. Amicable relations are developed with all the stakeholders to retain their business. The key stakeholders are customers, employees, channel members and financial institutions. A network of relationships is built.
· Internal Marketing: It is practiced to make all managers and employees customer-oriented. They are given training to become customer-oriented. Customer think is promoted orgainzationwide.
· Societal Marketing: It is practiced to enhance consumer and social welfare.
· Performance Marketing: It is practiced to ensure financial accountability in profitability terms. It assesses the value of marketing efforts.
d) The goal of the organization are effectively achieved through marketing think.

Holistic concept is the latest thinking about marketing. It has five pillars:
Integrated Marketing
Relationship Marketing
Internal Marketing
Societal Marketing
Performance Marketing

We can not think life of marketing without society. Because, all the activities of marketing are done in the society. Marketing emerges and takes place in the global world from the society. So that, marketing should protect societal interests though:

Environmental Quality: Marketing should make all efforts to protect and promote environmental quality. It should work for clean and green environment by the use of recyclable materials. Natural resources should be judiciously used. Pollution should be controlled by protecting forests, rivers, lakes, wild-life and air.
Employment Generation: Marketing should generate employment opportunities, especially for women and disadvantaged groups. Industries should be promoted in less developed and backward regions.
Meet Community Needs: Marketing should contribute to social causes such education, health, arts, culture, sports etc. It should use its expertise and resources to solve social problems.

Marketing survives and grows in the social context. All marketing decisions have social implications. Marketing must act responsibility and ethically toward consumers and society.

The societal marketing concept is an emerging concept. It holds that organizational objectives should be achieved through customer need satisfaction in ways that protect the interests of the consumers and safeguard the well-being of society. Marketing must be socially responsible. It should be accountable to society for its actions.

The societal marketing concept has the following features:

a) Social responsibility orientation of marketing to enhance social welfare. It can be by improving environmental quality, creating employment opportunities, supporting socially desirable issues, and meeting needs. Such programmes are well-designed.
b) Customer need satisfaction in the target market through the delivery of superior value products compared to competitors.
c) Integrated marketing efforts though organization wide marketing think. All activities related to marketing are assigned to the marketing department.
d) Profits through proper considerations to the interests of consumers, organization and society.

The social responsibility of marketing is both towards customers and society.

This concept holds that the key to achieving organizational objectives consists of market orientation. Integration of marketing activities to satisfy the needs of customers. This concept has the following features:

a. Target Market: Well defined target market. Tailored making programme which is efficient and effective than competitors.
b. Customer Orientation: Under the marketing concept all organizational activities are customer-oriented. All activities of the organization are focused on determining and satisfying customer needs. Customer needs are defined from the customer’s point of view. The concern for customer is the uppermost. Customer is regarded as the key to organizational success.
• The marketing activities begin and end with customers. The customer is the King/ Queen. The key to organizational success is customer satisfaction. What is good for the customer is good for the organization. Marketing is customer-driven.
• All departments in the organization “think customer”. They work together to satisfy customer needs. Top management adopts customer-oriented philosophy, values and beliefs.

c. Integrated Marketing: Under the marketing concept all marketing activities are organizationally coordinated under the marketing department to satisfy customer needs.
i) Various marketing functions work together. Such functions can be product management, marketing research, pricing distribution, promotion etc. The marketing department is the focal point for all such activities.

ii) Marketing department is well coordinated with other departments like finance, production, human resources and research and development to foster team work. All employees work toward customer satisfaction. All departments work together to serve the customer’s interests. Service support to customer is strengthened.
d. Objectives Achievement:
I) The ultimate purpose of the marketing concept is the achievement of organization’s objectives. For private business, the objective is profit, market share, sales etc. For public and non-profit organizations, it is surviving and attracting funds to provide service.

II) The marketing concept stresses that organizations can best achieve objectives through customer value and satisfaction. Organizations should not only satisfy but also delight the customers by delivering more than they promise. For example, helmet and leg-guard with motorbike.

The marketing concept is a new way of thinking about organizational activities. Managers focus all activities at determining customer needs in the target market. Profit through customer satisfaction is the objective of a business organization. All departments “think customer”.

a) The production Concept:
This concept holds that customers prefer widely available and low cost products. This concept has the following features:

a. Production-orientation of the organization. It aims at selling what can be produced.

b. High production efficiency through improved technology, standardization and mass production.

c. Mass distribution of the product to facilitate wider availability.

d. Low price to attract customers. Price is regarded as critical for marketing.

Under this concept, mangers concentrate on increasing production volume, reducing costs, and mass distribution. Many Nepalese organizations are still working under the production concept. This concept is widespread in developing countries.

This concept is useful to expand the market share. But it leads to impersonal and poor-quality service. It ignores non-price variables.

b) The Product Concept:
This concept holds that customers favour products that offer good quality, high performance, and innovative features. This concept has the following features.
i. Quality orientation of the organization. It aims at improving the product through innovation.
ii. Superior products at reasonable price; long lasting well-made products.
iii. No concern for customer needs; product-orientation.
iv. Quality improvements over time to attract customers.

Under this concept, managers focus on making superior products. They disregard customer preferences. They give excessive attention to product. But changing customer preferences and technology make the products obsolete.

We know that marketing is related with customers. All activities of marketing become possible with customers. And without customers no work of marketing can be done. So that marketing must have responsibility towards customers. And marketing should protect customer’s interests thorough:

a) Product Quality: Provision of reliable products at reasonable prices. Guarantee, warranty and after-sales service offers should be honoured. Adulteration and activities that cause health hazard should not be undertaken.
b) Product Safety: Provision of safe products that do not cause injury or accidents. Child safety should be a priority.
c) Honesty: Marketing should have honesty in promotion. Misleading, false and unethical advertising should be avoided. It should not indulge in bribe and kick-offs.
d) Consumer Rights: Marketing should respect and protect consumer rights. It should not indulge in restrictive trade practices, profiteering, black marketing and hoarding. It should be proactive to consumerism and environmental protection movements.

This concept holds that individual customer is the key to achieving organizational objectives. Marketing is done to satisfy the needs of individual customer.
This concept has the following features:
i. Focus on individual customer needs and values.
ii. Tailoring marketing programme to the needs of individual customer. Customized marketing mix. Individualized promotion and distribution.
iii. Capture larger share of each customer’s expenditure.
iv. One-to-one marketing integration.
v. Profit through customer loyalty and retention.

Organizations collect information about the profile of each and every customer. They use e-commerce and the latest information technology. This is useful to companies selling lots of high value products. Such products need periodic replacement or upgrading together changing environment.

This concept holds that customers should be persuaded into buying through aggressive selling and promotion efforts. This concept has following features:

a) Selling orientation of the organization which aims at satisfying the seller’s needs. It focuses on products. The aim is to sell what is made.

b) Aggressive selling and promotion to attract customer; pushing the products in the market for high sales volume.

c) No concern for customer’s needs.

d) Customer persuasion into buying existing products through a range of selling techniques.

Under this concept, managers focus on stimulating sales through promotional tools. This concept is dominant in Nepalese organizations. It is popular with non-profit organizations for social marketing. It is also used for political marketing. This concept is useful where overcapacity exists.

a) Target Market: No single product can satisfy everyone in the market. The total market is segmented. Segmentation is the process of dividing the total market into homogeneous groups of customers. Members in the group share similar needs and characteristics. Each group requires a distinct marketing mix. The chosen segments for marketing constitute the target market.
• Target market consists of actual and potential customers chosen segments. They have want to satisfy and ability and willingness to engage in exchange relationships.
• Target market can be consumer, industrial, institutional and global.

b) Marketing Mix: Organizations must and manage an effective marketing mix that satisfies customer needs in a target market. Marketing mix is a blend of product, price, place and promotion tools. It is offered for customer need satisfaction.

The components of marketing mix are known as 4 Ps:
• Product: It is offer to the target market.
• Price: It is what customers pay.
• Place: It is getting the product to target market.
• Promotion: It is communicating with target market.

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.