Most beautiful places and cultures &Marketing business

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.