INTRODUCTION TO MARKETING

Background 

Industrial activities have no meaning unless they are fully supported by marketing inputs. That is, production has no meaning unless it is exchanged for money or money's worth. That is why, marketing is more important than manufacturing. As an introduction to marketing, this chapter plans to touch the worlds market, marketing and all the allied aspects. The chapter ends with a summary and the chapter based questions. 

What Is Market? 

The term 'market' originated from Latin word 'marcatus' having a verb 'mercari' implying 'merchandise' 'ware traffic' or 'a place where business is conducted'. For a layman, the word 'market' stands for a place where goods and persons are physically present. For him 'market' is 'market' who speaks of 'fish market', 'mutton market', 'meat market', 'vegetable market', 'fruit market' 'grain market'. For him, it is a congregation of buyers and sellers to transact a deal. However, for us as the students of marketing, it means much more. In a broader sense, it is the whole of any region in which buyers and sellers are brought into contact with one another and by means of which the prices of the goods tend to be equalised easily and quickly.  

         The standard definitions of market are one which are given by Professors like Jevons, Pyle, Tousely Clark and Clad.., H.E. Mitchel, Cornot and so on. According to Professor Jevons, "Market means any body of persons who are in intimate business relations and carry on extensive transactions in any commodity". In the words of Mr. Pyle, "Market includes both place and region in which buyers and sellers are in free competition with one another". Put in the words of Professor H.E. Mitchel, "In fact, the market must be thought of not as a geographical meeting place but as any getting together of buyers and sellers in person, by mail, telephone, telegraph or any other means of communication". 

Classification of Markets 

Markets can be classified on different bases of which most common bases are: area, time, transactions, regulation, volume of business, nature of goods, nature of competition, demand and supply conditions.  

A. On the Basis of Area: Using area, these can be local, regional, national and international markets. Local markets confine to locality mostly. dealing in perishable and semi perishable goods like fish, flowers, vegetable, eggs, milk, and others. Regional market covers a wider area - may be a district, a state or inter state dealing in durables both consumer and non durables and industrial products, including agricultural produce. In case of national markets the area covered is national boundaries - dealing in durable and non durable consumer goods, industrial goods, metals, forest products, agricultural produce. In case of world or international market, the movement of goods is wide spread throughout the world making it as a single market. 

       It should be noted that the latest technologies in transport also, storage, packaging, even the most perishable goods are sold all over the world, not only durables. 

B.On the basis of Time:The time duration is the factor. Accordingly, there can be short period and long period markets. Short period markets are for highly perishable goods of all kinds and long period markets are for durable goods of different varieties - may be produced or manufactured. 

C. On the basis of Transactions: Taking the nature of transactions, these can be 'spot' and 'future' markets. In 'spot' market once the transaction takes place the delivery takes place, white in case of future markets, transactions are finalised pending delivery and payment for future dates. 

D. On the basis of Regulation: I Taking regulation, markets can be regulated and non regulated. A 'regulated market' is one where business dealings take place as per set rules and regulations regarding, quality, price, source changes and so on. These can be in agricultural products or produce and securities. On the other hand unregulated market is a free market where there are no rules and regulations; even if they are there, they are ammended as per the requirements of parties of exchange. 

E. On the Basis of Volume of Business: Taking volume of business as a basis, there can be two types of markets namely "Wholesale" and "retail". wholesale markets are featured by large volume business and wholesalers. On the other hand 'Retail' markets are those where quantity bought and sold is on small scale. The dealers are retailers who buy from- wholesalers and sell back to consumers. 

F. On the basis of Nature of Goods: Taking the nature of goods, there can be commodity markets, capital markets.  'Commodity' markets deal in favour or material produce, manufactured goods-may be consumer and industrial and bullion market dealing precious metals. 'Capital' market is a market for finance. These markets can be subdivided into 'money' market dealing lending, and borrowing of money; 'Securities' market or 'stock' market dealing in buying and selling of shares and debentures and 'foreign exchange' market where it is a forex market dealing buying and selling of foreign currencies - may be hard or soft.  

G. On the basis of Nature of Competition: Based on competition or competitive forces, there can be variety of markets for a product or service, However, there are only two most important namely, perfect and imperfect. A 'perfect' market is one which is characterized by (a) large number of buyers and sellers (b) prevalence of single lowest price for products that are 

'homogeneous‟ (c) the perfect knowledge on the part of buyers and sellers (d) free entry and exit of firms in market. These types for markets exist hardly. The other one is 'imperfect' which is featured by (a) products may be similar but not identical (b) Different prices for a class of goods (c) existence of physical and psychological barriers on movement of goods (d) No perfect knowledge of products and other dimensions on the part of buyers and sellers. 

H. On the basis of Demand and Supply: Based on demand and supply conditions or hold of buyers and sellers, there can be sellers and buyers markets. A sellers market is one where sellers are in drivers seat and the buyers are at the receiving end. In other words, it is a situation where demand for goods exceeds supply. On the other hand; buyers market is one where buyers are in commanding position. That is, supply is exceeding the demand for the goods. . 

What is Marketing? 

     Goods and services do not move automatically from the makers to the users. There is a definite mechanism that brings about exchange of goods and services against money or money's worth for the mutual benefit - namely, satisfaction to the consumers and surplus to the producers and manufacturers. Marketing is the belt that connects the two majors of any economy which are namely producers and consumers. Marketing is the creation of utilities as goods and services get value added by the time they reach the consumers. That is why in economic jargon "marketing" refers to "all the activities involved in the creation of place, time, possession and awareness utilities". 

Standard Definitions Both Individuals and Associations have been able to give standard definitions which are respected all over the world. 

Professor Glasser says "Marketing in a free economy is the skill of selecting and fulfilling consumer desires so as to maximise the profitability per unit of capital 

employed in the enterprise". In the words of professors Cundiff and Still, "Marketing is the business process by which products are matched with market and through which transfers 'Of ownership are effected". Theodore Levitt Says "Marketing is getting and keeping the customer". According to Harry L. Hansen, "Marketing is the process of discovering and translating consumer needs and wants into product and service' specifications, creating demand for these products and services and then in turn expanding the demand". Professor Philip Kotler has defined and redefined the word 'marketing'. His first definition was in 1980 when he defined it as "Marketing is the human activity directed at satisfying needs and wants through an exchange process". His latest modified definition runs as "Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating exchanging products and value with others". 

            According to American Marketing Association (Committee on Definitions) "Marketing includes all those activities having to do with effecting changes in ownership and possessions of goods and services. It is that part of economics which deals with the creation of time place and possession utilities and that phase of business activity through which human wants are satisfied by the exchange of goods and services for some valuable considerations". United Kingdom Institute of Marketing defines "Marketing is the creative management function which promotes trade and employment by assessing consumer needs and initiating research and development to meet them; it coordinates the resources of production and distribution of goods and services and determines and directs the nature and scale of the total efforts required to seek maximum production to the ultimate user". 

         The above definitions make it quite clear that marketing is the process of exchange of merchandise that involves two distinct aspects namely, 'mental' and 'physical'. 'Mental' involvement is that the sellers must know what buyers want to buy? At what price they want to buy? When they want to buy? Where they want to buy? Of what quantity and quality they want to buy? Similarly, the buyers must know, what is there for sale? At what price the sellers are ready to sell? When and 

where they want to sell? The 'physical' involvement means the actual movement of goods from the points of production to the points of consumption. Thus, marketing means and includes all those activities which are involved in the creation of time, place and possession utilities and marketing research, product planning and development and demand creation and the like. In a sentence, it embraces all those activities that direct the flow of goods from producers of consumers. It is a wide umbrella for most of the activities as it spans and integrates the whole chain of events between the consumer and the factory "as rightly expressed by Mr. Lazel, the exchairman of manufacturers" group of U.S.A. 

BASIC CHARACTERISTICS OF MARKETING

 The characteristics speak of the very nature of marketing. These are: 

1. It is Operational: That is, managers must think and act to achieve results. Benefits of marketing will not emerge from a passive attitude to the exchange process emphasizing the statement "no gains without pains". 

2. It is Customer Oriented: That is marketing firm is to be the keen observer. Outside focussing its attention on needs of customers. Its effectiveness lies in finding solutions to the challenges posed by these demands. 

3. It is Mutuality of Benefits: Exchange of goods and services work and persists because it is the mutual interest of both parties to continue. Both the marketer and customer benefit through supply of quality goods and service in return for profit. Here, customer's benefits exceed costs. 

4. It is Value Driven: The culture of the marketing firm are based on a desire to build the business through meeting the needs and responding to the market where the values espoused by firm‟s leaders are communicated to all those involved in the firm.  

5. It is Proactive to the Environment: Marketing firm is a sub-system of super-system the environment. The environment is something which is external to the firm. The environmental forces are ecology, technology, competition, physical resources, legal frame work, socio-economic factors, which are to be accepted by the marketing unit where it is to be pro-active and not reactive. 

6. It Covers Both Profit and Non-Profit Making Organisations: Marketing is not confined to only profit making organisations but covers non-profit making organisation or charitable institutions that sell services such as educational institutions, churches, temples, mosques, gurudwaras, hospitals, sports clubs and so on. 

DISTINCTION BETWEEN "MARKET" AND "MARKETING"

The distinction between "Market" and "Marketing" can be drawn clearly on following grounds:  

1. System Versus Activity: "Market" is a system or an atmosphere or a mechanism that facilitates such forces as are leading to price fixation. That is, physical presence of goods or men at a place is not essential condition of a highly developed and elastic market. Contrary to this, 'marketing' is the sum-total of all those activities that are related to the free flow of goods from points of production to the points of consumption. Physical movement of goods is the hallmark of marketing that is once the price fixation is done, the journey starts from sellers to buyers. 

2. Outlet Versus Means: 'Market' is a solid foundation to push goods from sellers to buyers.It  is an outlet to let out the products. It is the key to engine of marketing. On the other hand, 'marketing' is a gigantic machinery to move the goods by creating utilities of place, time and ownership. It is true with number of tentacles and ramifications to actually provide shade to the customers, or providing them to their satisfaction, the required goods and services. 

3. Narrow Versus Comprehensive Concept: 'Market' as a concept has a narrower meaning and coverage. It signifies both place and an atmosphere where buyers and sellers are in touch with one another. Contrary to this, "marketing is a wider or comprehensive term that represents the entire process of distribution and the process prior to distribution". 

4. Occurrence of Events: The question is whether 'market' covers first or marketing. 'Market' acts as a price fixing mechanism and once the transactions are struck, then the actual movement of goods start and change in ownership is brought about. That is 'market' is the starting point and marketing comes there after. 

5. Change Versus Consistency: In case of 'market', it might undergo a change in marketing that in buyers and sellers their requirements, with changes in supply and demand dimensions. These changes are comparatively quicker. While in case of marketing - in terms of philosophy - it remains more constant, it takes decades to change as warranted by environmental external factors. Thus change in market is much faster than change in case of marketing philosophy or concept. 

DIFFERENCE BETWEEN "MARKETING" AND "SELLING" 

There are good many people who use the words 'marketing' and 'selling' interchangeably. Infact, there is difference between the two terms so much so that their real meaning and content make them altogether quite distinct words. The basic difference can be outlined as under: 

1. Scope: 'Marketing' involves the design of product acceptable to customers and transfer of ownership between the sellers and buyers. However 'Selling' simply involves obtaining orders from customers and supplying them the products. It is more concerned with the sale of goods already produced. 

2. Emphasis: In case of marketing the focus is on satisfying the wants of customers while, selling emphasizes the need of the seller to convert products into cash. Marketing is customer oriented and seeks to earn profits through customer satisfaction. On the contrary, selling is product oriented and seeks to increase the Sales Volume.  

3. Occurrence: Marketing begins much before the production of goods and services. It continues even after the sale because 'after-sale services' may be necessary for satisfying the wants of customers. However, selling comes after the production 

has been completed and it comes to around with the delivery of the product to the customer. In other words, marketing begins before the manufacturing cycle, whereas selling comes at the end of this cycle. 

4. Philosophy: Marketing has philosophical and strategic implications. It is directed towards the long-term objectives of growth and stability. On the other hand, selling is mere tactical routine activity with a short-term perspective, under which customers are taken for granted as one homogeneous unit. 

5. Semantics: Marketing, as a word has wider connotation, which includes in its fold selling. Selling is a part of marketing which covers many other activities like marketing research, product planning and development, pricing, promotion distribution and the like. Thus, marketing means selling but selling does not mean marketing.  The following box gives a comparative account as to selling and marketing in a nut shell. 

Marketing 

1. Focuses on Customers needs 

2. Begins before Production 

3. Continues after Sale 

4. A Comprehensive Term in terms of Meaning 

5. Philosophy of Business

6. Profits through Customer Satisfaction 

7. Let the Seller beaware.  

8. Integrated Approach 

9. Long-term Perspective 

10. Customer first then Product 

Selling 

1. Focuses on Sellers needs 

2. Begins after Production 

3. Comes to an end with Sale 

4. A Narrow Term in terms of Meaning 

5. Routine day to day Physical Process  

6. Profits through Sales Volume 

7. Let the Buyer beware 

8. Fragmented Approach 

9. Short-term Perspective 

10. Product first then Customer 

MERCHANDISING-DIFFERENCE BETWEEN "MARKETING" AN "MERCHANDISING" 

 What is merchandising?  

The term 'merchandising' has a variety of meanings. It is very often used synonymously with the terms 'advertising' 'marketing', 'selling' and 'sales promotion'. However, the most generally accepted usage of the term 'merchandising', and the way it is employed here, is the adaptation of merchandise to the requirements of the market. Merchandising determines consumer desires for product, design, color, quality, price and package. In that sense merchandise is one which is produced that matches the needs, moods, tastes, aspirations and pockets of consumers. 

             The Committee on Definitions of the American Marketing Association defines "merchandising" as "the planning to offer the merchandise at right time, in right quantities and right price". Merchandise management or the direction of merchandising includes the functions of : 1. Consumer research to discover product likes and dislikes and secure ideas for merchandise improvement 2. Technical research in laboratories and shops 3. Testing of product features and performance 4. Designing product features, 5. Packaging the merchandise 6. Branding for identifying 

products 7. Determining new uses or applications 8. Establishing quality 9. Labeling 10. Determining mechanical service required 11. Establishing inventory policy 12. Determining the number of varieties to make and 13. Deciding when to introduce new or improved products. 

DISTINCTION BETWEEN "MERCHANDISING" AND "MARKETING"  

Though the functions of merchandising are more or less are like marketing, there is difference between the two. Broadly two points distinction can be seen clearly and these are: 

1. 'P' Versus P's: At later stage, we are going to discuss what is known as marketing mix - which has four Ps namely Product, Price, Place and Promotion. Even some authors have thought of more Ps than basically accepted above four Ps. Merchandising deals with only one P - namely 'Product' or product mix and product mix variables. However, marketing deals with all the four Ps-namely product mix, price mix, place mix and promotion mix. 

2. Comprehensiveness: Marketing is a major function of any organisation like production, financing and personnel. Marketing deals with the functions of exchange, physical supply and facilitating, further branching to sub functions. Merchandising becomes only a part of marketing. That is marketing is merchandising but merchandising is not marketing.   

APPROACHES TO THE STUDY OF MARKETING 

The marketing experts came out with three fundamental approaches to the study of marketing namely, commodity, institutional and Functional. Approaches developed with the passage of time have increased the number to seven. This is not an end, but the beginning of alternative approaches to study marketing. These are managerial, systems, social and holistic or inter disciplinary. Let us touch these in brief. 

1.Commodity Approach: The commodity approach refers to the detailed study of the problems encountered in marketing a particular class of products may be consumer, industrial or agricultural. A number of problems crop up in the movement of goods from the points of production to the points of consumption. This approach involves classification and sub-classification of products, their product and market features peculiarities, problems in marketing and marketing considerations. 2.Institutional Approach: This approach studies various marketing institutions particularly the middlemen or facilitating agencies which perform the marketing functions. These middlemen are merchant and agent middlemen who connect the producers and consumers. The merchant middlemen work for profits as they take risk by taking titles to the goods. These are wholesalers and retailers. On the other hand, agent middlemen work for commission from acting as connecting link between the parties and do not take title to the goods and hence risk. Other institutions are wholesale and retail organizations particularly showrooms super markets, departmental stores, multiple shops, cooperatives regulated markets-both securities, bullion and produce exchanges, banking and other governmental bodies that provide institutional support. 

3. Functional Approach: Functional Approach attempts to study from the angle functions it performs in the movement of goods from producers to consumers. The marketing experts have identified three major areas of functions namely, functions of  exchange - buying and selling ; Functions of physical supply - warehousing and transportation and facilitating functions - standardization, financing , market intelligence and risk bearing. These facilitating functions can be more - as there is need for promotion of goods - calling for communication mix. Each function is analyzed and efforts made to how best each function can be performed for the benefits of marketers and consumers. 

4. Decision Making Approach : This approach is of paramount importance as marketing is only a part of general management and management is the process of decision making. Decision to maximize profit to the firm by extending consumer satisfaction and delight. Marketing manager makes his decisions based on facts opinions and reliable information relating to factors that are controllable and "uncontrollable. Controllable factors are well within the control of managerial behavior while uncontrollable factors are beyond the control of a manager. The former decisions are reactive while latter are pro-active. Managerial approach also deals with marketing planning, organizing, directing, coordinating, controlling, in addition to motivation and communicating. 

5. Systems Approach: According to this approach, marketing organisation is a system that works in consonance with external and internal forms. A system is a set of objects held together, relationship among them and their attributes. Marketing experts view marketing organization as an  organic and open system which is composed of interacting and independent parts ,known as sub system. This approach is based on the generalization that every thing is inter-related and interdependent. Accordingly, an organisation transforms 'inputs' into variety of 'outputs' and offers the same to environment in the forms of products and services. Disposal of output provides the necessary or feedback or energy to keep the system kicking and alive taking business unit as a whole. 

6. Social Approach: Social approach to the study emphasizes the fact that marketing is for society and, hence, functions as dictated by the social norms set by the society. As marketing makes use of  social inputs or resources, it has the social responsibility to fulfill. . That is, marketing n maximum social well being or welfare. That is it is not only to provide a car, but less pollutant car, cigarette without smoke, medicines without side effects, holding high the social and cultural values adding to the life styles and living. 

7. Holistic Approach : Holistic approach is inter-disciplinary approach to trace and understand the problems, marketing is to make use of the contributions of each discipline or specialized knowledge. That is marketing draws a lot of information, principles, techniques from exact and inexact sciences say  mathematics, physics, chemistry, physiology, psychology, law, sociology, anthropology because consumer  

is human being and each one is unique in many respects. To make maximum consumers happy,  inter-disciplinary approach is a must. That is why, marketing personnel is expected to be special breed  knowing everything of something and something of everything. What is important is his  horizontal  specialist thinking and acting laterally.  

Objectives of Marketing 

Though the end of all marketing activities is the satisfaction of human wants, and to derive profits there from, the following are the most significant objectives of modern marketing. These are 

1. To Apply Effective and Intelligent Modern Marketing Policies: The economic turbulence of the last decade has really posed many challenges to the dynamic field of marketing. Changing growth rates, relatively high inflation, high interest rates, rapid technological change and new aggressive rivals challenge each and every marketing firm to adopt and respond to change for survival and prosperity. Success implies finding the ways of attaining maximum effectiveness in the development of their resources to meet the needs of clients. The firms are forced to scrutinize every area of expenditure waste and maximize returns. This is possible through viable and matching policies. 

2. To Develop the Market Field: Marketing is the most dynamic field where change rules the roost. Change is continuing preoccupation among the markets. Naturally, some developments are gradual and progressive. Once a pattern is established, the trends can be ascertained. Thus, personal computers have turned smaller in size but more powerful than earlier. The number of features in soft wares are rapidly increasing. It is the story of all products. Despite challenges, noted multinationals such as ASEAN Industries, CBS, IBM, HP, Kodak, Shell, Michelin, Exxou, Dupont, Pand & GE have sustained because their continuing commitment to marketing. Most powerful weapon is to brand a major asset that speaks of commitment to marketing field. 

3. To Develop and Implement Guiding Policies for Better Results: Innovative marketing guiding policies and other effective implementation are sure to assure better results. In their famous book "In search of Excellence" Peter T.J. and Waterman R.J. pointed out that out of 60 most successful American firms over 25 years of their study, shared a dedication of marketing as a key strategic discipline in their firms. All these firms were dedicated to the most important marketing propositions, that the key to success lies in "keeping close to the customer". Many of the innovative companies got their best-ideas from customers. That comes from listening intently and regularly. The substance of successful marketing is, "innovative" and "customer building" as said by management experts particularly in the field marketing. 

4. To Suggest Solutions by Studying the Problems Relating to Marketing: Identifying the problems and giving fitting solutions to the problems in various aspects of marketing is really a challenge to the mental facilities of marketing managers namely, wit, vision and judgment. Lack of investment in research and development, poor product design, alienated staff and weak support systems cannot be resulted through clever packaging and promotion. The reality of marketing is rooted in the research, production, human resource and financial policies of the enterprise. Therefore, there is dire need of complicated issues in the areas of marketing-namely, buying, selling, transportation, warehousing, risk-bearing, standardizations, financing and market intelligence and suggest matching solutions to the problems. 

5. To Find Sources for Further Information Concerning the Market Problems: The world of business is moving on the basis of countless decisions. The decisions are based on information. It is easier comparatively to make decisions in other areas of business than in marketing area which is highly fluid, volatile and dynamic where only certainty is uncertainty. Marketing decisions are more complex and indicate having impinging impact on the very fortune of a company. Alert marketer, therefore, is always a keen observer and one who uses sixth and seventh senses to predict the 

likely problems and issues. This depends on marketing information system that he has at his command. Information consists of evaluated data. It stands for the uses or the guidelines which have the potential of influencing decisions. Marketing information is more generated outside the organisation that shapes the incoming problems and solutions.  

Role of Marketing 

Any economy developed or developing is a market oriented economy. In an economic system production and consumption are the two wheels which are made to move by the best of marketing allowing flow of goods and services from producers to consumers and flow of money from consumers back to producers. By its very nature, a market oriented economy is a dynamic economy characterized by the steady growth of markets and their expansion. In such an economy, it is the basic function of marketing systems to transform the benefits of productive efficiency in terms of higher levels of living via distribution. If the levels of living are low in any country that can be attributed directly to the least developed marketing system. According to Professor Peter Drucker - the management Guru, the neglect of marketing is one of the main factors which keep an economy underdeveloped. He argues "Marketing by itself might go far towards changing the entire economic tone of the existing system without any change in the methods of production distribution of population or income". The need for the market grows out of the division of labor, mass and specialized production calls for the existence of mass markets in which the entire output can be put in or pushed out at a reasonable margin of profit. To reach the farflung markets of the world, marketing services are inevitable. The role played by marketing in the to-day‟s world can be studied under two distinct captions namely, Benefits and costs. 

Benefits of Marketing: 

Benefits of marketing accrue to both the society and the individual firms engaged in marketing activities.  

 A. Benefits to the Society as a Whole: Marketing is a social and economic institution and is part of society and, therefore, plays a significant             

Role in favour of society.          

The following benefits are enjoyed by the society: 

1. It is an instrument to uplift the living Standards of teeming millions.

 2. It provides gainful employment opportunities. 

3. It stabilizes the economic conditions. 

B. Benefits to the Individual firms:  There are countless firms engaged is marketing activities which stand to benefit through the system of marketing. The term firm is not confined to partnership firm but any organization that is engaged in one or more activities of marketing.  

       The benefits that accrue to individual firms are: 

1. it enables the firms to earn more profits  

2. it acts as a basis for making vital decisions  

3. it acts as a source of new ideas 

Costs of Marketing : 

Undoubtedly marketing is praised for granting benefits to marketers and the consumers and other members of society collectively and individually. However, in recent years marketing is blamed for its high costs. Different factions of society are aware that these benefits are available at unduly high cost. In fact, the expression "high cost" is quite elusive because, it is very difficult to estimate accurately the costs of marketing. However, teams of experts are of the opinion that the cost of marketing hovers around 50 percent of the selling price. If a consumer pays rupee one for a commodity or a unit of service, he pays as high as 50 paise or half the final payment for marketing costs. 

The question is why marketing costs are so high? There, are certain definite reasons for this. 

These are:   

1. Specialized and round about production : Large production brings down the costs of production. Marketing production centers to concentrate at places to derive the economies of scale  

    However, consumers are spread all-over the nation-for that matter allover the world. This increases marketing costs in the area of distribution.  

2. High expectations of consumers: Consumers want the best quality products right at door step because of modern life-styles. When consumers place order by phone and expect door delivery and delayed payment, the costs are bound to increase - for business is not a charity. These additional costs are value added costs or service costs. 

3. Inefficiency of marketers. All marketing organizations and people are not efficient and effective. Along with the best and good, we have worst and bad organizations and people who add to costs. This is something, which is not tolerable. Because of high costs, every attempt is made to reduce these costs. Even if 10 percent of costs are reduced, more and more people are benefited leading to more competitive conditions, which will be for the betterment of all. Academicians, government authorities, general public all are engaged in reducing these marketing costs. Academicians conduct research in different aspects of marketing; government at various levels provide infrastructure facilities that smoothen process of marketing bringing more benefits to consumers. Even the members of the society tell marketers directly or indirectly what they expect from marketers.