THE ESSENCE OF MODERN MARKETING

 Though selling is an integral part of the total marketing efforts, it does not encompass the whole of the modern marketing concept, particularly in the light of changing philosophy of business. The essence of marketing to day is evidenced in five major areas of endeavor. To fulfill and utilize the marketing concept to serve the needs of the firm and, in turn, increase the sales of the firm through consumer satisfaction. A dynamic marketing organisation must be willing to undertake the following specific activities namely: (1) define the market area. (2) Research consumer needs and wants. (3) Develop and redevelop product and service. (4) Select, train, motivate and control men, and (5) Develop sales approach and advertising support. 

1. Define the Market Area: A person seldom begins a journey unless he first knows, his desired destination, and if he is a careful traveler, he has planned his route, his stops, and his times of arrival and has determined how much it will cost to get there. The same principles or ideologies apply to modern marketing. Basically, there are three major markets that a firm attempts to woo the general consumer market, the industrial market or the service market and the vast and fast growing government market. After a firm has decided where it wants to go, it needs to find what that market segment needs" and is interested in buying. 

2. Research Consumer Needs and Wants: It is the vital step in marketing. A clear distinction between a 'want' and a 'need' is to be made. Thus, a child needs milk and a child wants a candy is a very simple illustration to highlight the difference between the two. Thus, a child needs food and a child wants food in case of duplication. The firm is to realize through research the distinction between consumer 'needs' and 'wants'. The product can be so designed to fill each desire and sold to fit each element of a need or a want. The research will help to know how much consumers buy? How they buy? Where they buy? How often they buy? How much they spend now? How much they can and will spend for the need or a want? Thus, the research department is supported by money, time, and efforts will yield essential information to aid the continuing efforts of giving consumers what they want and need. 

3. Developing and Redeveloping the Product or Service: Keeping a product or a service up-to-date is a continuous process in terms of latest design, functions, appearance, appeal, cost and convenience, to make it highly competitive. This ceaseless activity is inevitable and cooperative part of a firm's development and production division like research and development. Updating refinement is true of any product or service whether it is a good product - a clothing':"" a heavy machinery - a television repairs - a banking or even a case of hair-dressing. It is so because, there is no end for refinement. The advertisements say about it as 'ultimate' in photography or sound or paste or oil or even a soft-drink, wife, husband and so on.

4. Selecting, Training, Motivating and Controlling Manpower: It is very rightly emphasized that an organization‟s greatest strength and wealth are in its people. This is certainly true of market or consumer oriented firm. The manpower development function consists of recruitment, selection, training and placement from department head to the salesman, is vital to the success of an organisation. Each employee's knowledge, attitude, approach, skill, talents are important to the overall success of the unit. There must be a well-planned programme to enable the employee to meet the firm's total commitment and personnel standards. A good training programme prepares the fresh hands to the various work positions. More than this training, there should be a permanent basis to assure that each employee can continue to function to his full capacity and enthusiasm. Employee control concentrates on judging the contribution of each towards the goals of market oriented organisation at large. 

5. Developing Sales Approach and Advertising Support: It is very often said "nothing happens until some one sells something." This is what that starts the wheel of marketing moving - the production line puffing-the shipping clerk wrapping-the claim clerk processing and the overseer all these activities. Before selling begins, important decisions must be made as to how the product will be sold'! Whether direct sale or through agents'! What is the channel'! Its length'! Cash and credit'! Areas of sales and the like. Another effort is marketing is that of advertising. Advertising is to compliment the overall company image and intent. It is not the force to supplant the sales-force. Advertising can be used to whet the appetite of the defined market, to herald the good news of the arrival of a product and to inform the potential customers of the places where it is available. There should be a perfect integration of the ideas of advertising, sales, production and finance personnel. 

      In a nutshell, the modern total-concept of marketing is more than mere selling. It is a concept that encompasses these five sets of activities. It is a concept that permeates every organizational division in order to be successfully fulfilled. There are no short cuts in acquiring and developing or activating the marketing concept. If an organisation is to be groomed properly for its competitive battle in the market place it must function through a sound, well-planned and elastic market oriented programme. 

MARKETING MANAGEMENT 

What is it ? 

Marketing management signifies an important functional area of business management responsible for the flow of goods and services from the producers to the consumers. It is one accountable for planning, organizing, directing, coordinating, motivating and controlling the marketing activities. In effect, it is the demand management under customer oriented marketing philosophy. Marketing management is the management of the crucial and creative task of delivering consumer satisfaction and thereby earning profits through consumer demand. It is the performance of managerial functions of planning, execution, coordination and control in relation to the marketing functions of marketing research, product planning and development, pricing, advertising, selling and distribution with a view to satisfy the needs of consumer, business and society.  

       According to American Marketing Association, if is "planning, production and control of entire marketing activity of a firm or a division of a firm, including the formulation of marketing objectives, policies, programmes, strategies and reappraising product development organisation to carry out the plans, professional working operations and controlling performance". In the words of Prof. Philip Kotler, "It is the analysis, planning, implementation and control of programmes designed to bring about desired exchanges with larger audiences for the purpose of personal or mutual gain. It relies heavily on the adaptation and coordination of product pricepromotion and place for achieving effective response." The above expressions bring home very clearly the very substance of marketing management as a matter of planning, implementing and controlling the marketing programmes. Marketing management is the marketing concept in action. It includes all activities which are necessary to determine and satisfy the needs of consumers. To be very simple, marketing management sets marketing objectives, develops marketing plans, organises marketing functions, puts marketing plans and strategies in action and monitors the marketing programmes .in the final analysis. Effective marketing management requires the ability and the skill of-highest order. It warrants close- appreciation of the consumer and an understanding of forces of change which are at work in the environment and which have deep-rooted impact on consumer buying habits and motives. It calls for fertile imagination and creative skill in planning to meet the changing conditions of the market place; it also requires skills of coordinating and controlling the wide-spread and complex activities of a dynamic organisation. The prime purpose of marketing management is to know the consumer so well that the firm is able to offer him or her products and services to which the consumer remains loyal and the new consumers keep on coming at increasing level. 

OBJECTIVES OF MARKETING MANAGEMENT 

The objectives of marketing management are derived from the overall objectives of business. The overall objectives of business are profit-making, growth and service of society among other things. Marketing management can contribute towards the achievement of these objectives by developing and distributing products and services which satisfy the needs of customers and give profits to the business enterprise. In brief, the objectives of marketing management are: 

1. Creating Customers: A business from established to sell a product or service to customers. Therefore, the customer is the foundation of a business. It is the customer who provides revenue to business and determines what an enterprise will sell. Creating customers means exploring and identifying the needs and requirements of customers. If a firm is to go and stay in business, it must create new customers. It should analyze and understand their wants. 

2. Satisfying Customers‟ Needs: Creating customer is not enough. Business should develop and distribute products and services which meet the requirements of 

customers of their satisfaction. If customers are not satisfied, the business will not be able to generate revenues to meet its costs and to earn a reasonable return on its capital. Satisfying customers does not simply mean matching products with customers' needs. It also requires regular supply of goods and services of reasonable quality at fair prices. 

FUNCTIONS OF MARKETING MANAGEMENT 

Victorious marketing management calls for integration of market related elements. The task of marketing management is to combine these elements into an effective operating system and to arrange the system in its interaction with a dynamic environment. These functions are: 1. Assessing the marketing opportunities 2. Planning marketing activities. 3. Providing effective marketing organisation. 4 Actuating by leadership. 5. Motivating the human-side and 6. Evaluating and adjusting marketing efforts. 

1. Assessing the Marketing Opportunities: It involves the identification of the company goals and the analysis of established and new profit opportunities open to the firm. The significance of this function is that the market opportunities are changing and the marketing management must develop creative strategies to cultivate these opportunities. That is a planned programme of innovations is essential for the marketing effectiveness. That is to say, the firm must respond to the market and adopt a broad and dynamic view of the marketing opportunity. New opportunities are best with challenges. Thus, the firm should be ready and willing to accept and shoulder the risks of the possible venture. 

2. Planning the Marketing Activities: Planning is an integral part of marketing management and is the vital element of the systems orientation. This function is based on the marketing opportunity which is key to the successful marketing management and performance. Marketing planning is used to develop and define objectives and then derive strategies and design programmes that enable the firm to achieve these set aims. The systems approach warrants a concise statement of these goals and encourages systematic analysis of the impact of the programmes devised. Planning 

provides the basis for integrated marketing strategy to make planning central to the marketing concept, both short and long-run. Thus, planning is the prelude to other functions of marketing management. 

3. Providing Effective Marketing Organisation: The innovative and' dynamic nature of marketing activity places heavy demands on the marketing organisation. As marketing is an accepted system, the role of organisation is felt more. The interaction process between the organisation and the environment is a focal concern of developing marketing discipline. Application of the newer organisation theories may have impact on the marketing operations. New product developments and the growing importance of international marketing are some of the marketing changes that have raised organisational problems for the unit. Thus, the organisation provided is to be accommodative in the light of changing concept of marketing.  

4. Actuating by Leadership: Diverse changes are influencing the patterns and styles of the leadership required for effective performance of marketing functions. Development of newer patterns of leadership are testing the traditional views of management methods and policies. For instance, one organizational problem is raised by the tendency towards centralisation of responsibility for integration of total marketing tasks. Balanced against this centralization tendency is the need for greater participation in management and decision-' making by people at subordinate levels. The solution needs analysis of management philosophy, communication pattern, scope of authority and responsibility, leadership activities and staffing policies and practices and the placement of an individual in the organisation, in a given position. 

5. Motivating the Human-side: Marketing involves the functions that are finally identified with the people. Free flow of goods will be there only when the people involved in the process are motivated. Employee motivation is a must in these days of keen competition. The question of to-day's management is not to create a suitable man for the management, but to keep him longer as a loyal and humble employee so that the benefits of stay are fully enjoyed by the unit. That is why, new ways of encouragement or stimulation are to be introduced where the individual unfolds his 

latents and initiative to contribute the best of his. 

6. Evaluating and Adjusting marketing Efforts: In order to take advantage of profitable marketing opportunities, the marketing manager must continually evaluate and adjust the market efforts. The firm is to adjust to its ever changing environment. To make an effective judgement, the marketing manager must have the knowledge of the entire marketing system so that the components of the system can be evaluated, controlled and adjusted to bring the system in lien with the marketing activities on one hand and the opportunities on the other. Essentially, the-major challenge confronting marketing management is that of creative adaptation to change. To meet this challenge, the firm should have a complete appraisal of its marketing operations through marketing audit, research and other control devices. 

NEW WAVES OF THOUGHT IN MARKETING 

The growth and refinement in any field is the manifestation of the creative thinking on the part of Thinkers, marketing is no exception to this. Original conceptualization of idea and concepts has been refined and further refined making marketing discipline more responsive, realistic and amendable. There is no end for this continuous flow of new ideas that infuse dynamism in this ever-growing discipline. Following are some such instances that have been recently conceptualized, challenged, debated and crystallized. 

1. Social Concept: Social or societal concept of marketing has been the brainchild of Prof. Philip Kotler and his team. In his own words "the societal marketing concept calls for a consumer orientation backed by integrated marketing aimed at generating customer satisfaction and long-term consumer welfare as the key to attracting long-run profitable volume." As noted earlier, this concept has all the ingredients of 'modern marketing concept.' The additional dimension is concerned with long-run consumer welfare. There are good many products and services which satisfy the consumers' needs and wants in the short-run but dissatisfy in the long-run because short-run consumption and individual satisfaction has long-run ill fare as consumer cannot be free from ecological problems. For example, moving from cycles to mobiles satisfy their own needs but create problems of air pollution, parking, traffic congestion and increased accidents. Varieties of alcohols, cigarettes and narcotics create the problems of health hazards and law and order improved soaps and detergents help in household washing but have impaction reuse of water for irrigation and drinking purposes. There are countless problems of this kind where short-run satisfaction is turning in long-run consumer welfare being demand. The essence of societal marketing concept is dethrusting of excessive corporate concern over short-run individual consumer needs and their satisfaction, by emphasizing long-run consumer interest. It worries more about the needs of society, as a whole, as against individual desires, whims and fancies. It spotlights the promotion of what is known as "responsible individual conception with the awareness but its social implications."  

2. Meta Marketing Concept: This term 'meta marketing' was originally used by Prof. Kelly EJ. Here, 'meta' means 'more comprehensive.' In the words of Prof. Kelly E.J. "meta-marketing is to designate a new, although related discipline which deals critically with marketing as a discipline." The concern of meta marketing is to bring the whole of scientific, social, ethical and managerial experience to bear on marketing. The essence of this definition is pointed out by Prof. Philip Kotler as meta marketing is the set of processes involved in attempting to develop or maintain exchange relations involving products and services, organizations, persons, place or causes. It is an attempt to widen the horizons of marketing by covering non-business organizations. Like the marketing mix of business organisation, non-business organisations do, have their marketing mix. The best examples of met a marketing can be selling of family planning ideas or the idea of temperance or prohibition. In this process, they activize one or more of the marketing mix. Similar are the examples of organizations like temples, churches, mosques, gurudwaras, schools and colleges, hospitals and clubs and other service units. 

Though meta-marketing emphasizes only the sales concept as against marketing concept, it has contributed to shape and reshape the thinking of men of eminence. It has given us the insight into the relevance of marketing new areas. 

3. Demarketing Concept: Demarketing is another recent marketing concept which is applicable to the world of underdeveloped countries. "Demarketing is that aspect of marketing which deals with discouraging customers, in general, or certain class of customers in particular on either a temporary or permanent basis." By nature, the underdeveloped countries as featured by exceeding demand in relation to the supply of goods and services. Here, demarketing concept supports the fact the management of excess demand is as much a marketing problem as that of excess supply and can be achieved by the use of similar marketing technology as used in case of managing excess supply. It may be employed by any organisation to reduce the level of total demand without alienating loyal customers, to discourage the demand coming from certain segments of the market that are either unprofitable or possess the potential injuring the loyal buyers to appear to, want less demand for sake of actually increasing it. Pulling the concept further, Prof. Philip Kotler and Prof. S.l. Levy say that the marketing task is not blindly to engineer increase in demand but to regulate the level and shape of demand so .as to conform it to the organization‟s current supply situation and to its long run objectives, because there is no danger in damaging customer relations in any demarcating strategy. 

4. Macro Marketing Concept: Macro-marketing concept as presented by Prof. R. Meyer refers to the study of marketing within the context of entire economic system with special emphasis on its aggregate performance. Stated in other words, it studies the aggregate role of the different components of the marketing mix employed by different marketers operating within the economic system and the way in which they interact with the socio-economic life of the society at length. . 

To-day, the study of marketing in the broader context of the economic system is gaining much importance as marketing discipline is assuming a social dimension. 

This is more so in case of fast developing countries where contributions of marketing towards economic development are realised. In fact, the aggregate performance analysis implies the analysing, the contribution of marketing towards the various facets of economy. Macro-marketing is an attempt to study the ways in which the different components of marketing mix may be used for the promotion of much needed economic development of a society or its factions. 

5. Remarketing Concept. Remarketing is a concept that speaks of extention strategic marketing. Remarketing is to do with finding alternative uses for the existing product or products together. It also conserved with creation of new users. Perhaps the best example can be that of nylon a synthetic fibre which was used to weave parchute cloth and making of nylone ropes in place of cotton cloth and coir ropes that had some drawbacks. However, today nylone is used in making scrubbers- both kitchen and non-kitchen flooring, tents, zips, brushes, bristles, artificial hair, uphostery cloth and so on. Remarketing elongates the life cycle of the product which means optimum utilisation of resources and greater satisfaction to the society. This strategy has become more pertinent in the evake of proliferation of competitive products. In that sense, it is also called as 'morph' marketing. The word 'morph' means form or features. The word 'morphology' deals with the form, features and structure and the added benefits or value increased from form change. It is rewriting the core benefits of brands and delivering them in a unique manner which he or she never drempt of it. Value addition is the key to build consumer loyalty. It speaks more of quality than of price. Lakme Company of India has set up chain of beauty parlours in megopolies. At present, there are more than 600 units working successfully and by 2002 end the target set is 6000 parlours where only Lakme beauty products will be sold'. These parlours are functoining or franchise basis.  

6. Over Marketing. As the caption suggests, the companies engaged in over marketing focuses their attention on increasing sales by all possible means. These concerns might neglect quality control and production efficiency and benefits arising 

out of them. It is a case of down trading; that is reducing quality standards and benefits of efficiency and economy and diverting all their resources in increasing sales. The question is pushing the sales. It works well in case of rural markets and new markets. In fact, the company might gain but the society is bound to suffer as they are not getting real value for the price they pay. 

7. Synchro-Marketing. Demand for variety of goods, especially seasonal, fluctuates greatly causing an imbalance making the parties to suffer or gain. The most common items are water-proof products used during rainy season and woollen clothes and cloth used in winter season and so on. These other items that enjoy demand at peak only during certain season of the year. In case of school children school bags, uniforms, socks and shoes. During off season, prices fall and with that nobody likes bla,* the money. The problems associated with fluctuations in demand and supply conditions can be adjusted through price adjustments and special offers. During off season price incentives are 'given and more money is spent wisely on promotion. Even to draw the attention during the prepeak period, the firms speak of fresh arrivals, variety of merchandise and brands and so on. Such an attempt is called as synchro-marketing where the interests of marketers are protected by granting or wooving the customers and maintain yawning gap between demand and supply. Promotion mix is so blended that it works well in mainting balance between the on and off season fluctuations. 

8. Counter-Marketing. One thing is sure that there is something called business ethic controlled behaviour responding to the requirements of the well being of the society. Counter marketing is a deliberate attempt to damage or totally kill the demand for the goods and services because their known for harmful effects on the consumers, the suppliers and the people engaged in making avail~ these products and services. We all are aware that excessive drinking or even occasional smoking, hail unsafe sex, use of powerful pesticides, wormicides, fertilizers, drugs have some such examples. In Cat of such products the demand is virtually killed or an attempt made 

to kill by supplying safe alternati~ One is aware that use of D.D.T. is totally banned which widely used in 1950 and 60s in eradicating maim Similarly pencillin products are also banned in view of long-term in effects. In case of hot stuff I1 cigarettes statutary warning is also given. The diea is to encourage self- regulation rather than governmelu regulation. Of late, environmental friendly and customer friendly pesticides, wormicides, drugs, medicin~ hot drinks, cigarettes are developed for once the consumer is used to these he or she becomes an awls and enters the point of no return. It means that profiteering is not motto but servicing the justifiai needs of the society. 

9. Mega-Marketing. Mega-marketing, is the set of those strategies where closed markets an opened up. These strategies may be economic, psychological, political, public relation skills and ga~ cooperation of strongly opposing parties. There can not be better example than that of Coca Cola a« Pepsi Cola, the American multi-nationals and products famous all over the world. Prior to 1977 wha Indiraji was in power, she banned Coca Cola encouraging national companies to come out with smell cola; Swadeshi companies took advantage and Paris Company came out with Thumbs up which was I thundering success. With the fall of Indiraji, Coca Cola given a big booty to Parle Company allowing sell its products along the products of Coca Cola. The rival company namely Pepsi Cola was to neat and successfully enter allowing Parle Company to sell its products like Limca and Gold Spot. Pepsi-startd selling Pepsi Cola and slowly introduced Fanta Orange. New a big war is going on between Coca.CoL and Pepsi Cola which spend yearly 3500 to 4000 crores of rupees on advertising in maintaining art increasing the demand. The war of advertising has been so fierce that Hindi is freely used in English,' a part of slogans which are changing. If Pepsi says "Dilly Mange More" the Coca Cola says "Thinly Vane Coca Cola" a "Enjoy Coca Cola 10 Phi Ho lai". Thus, happy days are again gain where co~ was banned in India. 

10. Green-Marketing. "Green" or "eco" marketing is the order of the day.Imbalance in the eco-systems or environment is going to affect as flora-and-fauna are badly affected. Take the example of rabing trees in the forests to make more area for cultivation and accommodation has resulted in redu! Rain fall; global warming has resulted and if care is not taken of environment in which we are living a die will come where more and natural calmities will because finally digging our own graves. That is w~ every effort is made protect endangers spicier of flora and fauna al1d eco-systems. If we do not cavil for protecting the forests, no rains, no rains no water; even the ground water is in short so much so the a litter of water might cost more than a litter of petrol. These manmade emblems of environments imbalances are having impact on every human activity and marketing is no exemption too. Whatever product we are using be it a Car, Watch, Cup, medicine, pesticides, fertilizers are to be environments~ friendly which are bio- degradable. Thus, paper bags are fast replacing the plastic carry bags; lei pollutants cars and three and two wheelers are produced and marketed. 

11. Event Marketing. Event-marketing is concerned with exploiting the happenings of an evil in every walk of social life. . Wise marketers have designed certain promotional tools to introduce, popular and expand the demand for their products or services. Entertainment and the sports are the moo common areas where event marketing is fully exploited. Sponsorship, patrionage public relations is vehicles of advertising especially out door are used. Cricket, foot-ball, tennis, and other sports war ha cups and trophies sponsored by rich and famous companies such as Sahara, Pepsi, Coca-Cola, LG, Wills, Titan, Benson and Hedges, Reliance, and the like. Musical Nights do form the part of event marketing Again, national and regional fairs and melas are quite common. Best example in India is that of Push melas held every year in Rajasthan. It is largely attended where nearly 3 to 3.50 cores of people participat India is a wonderland of festivals and melas where fairs and melas range around 5000 spread over a wee! to months and occurring yearly to twelve years once such as Kumbhamelas. . These huge gatherings d denotees, fans, create marketing opportunities on which marketers encash upon. Even new year, new decade, new 

millenium are the great events where special schemes are planned and excuted to boost the sale of products and services including ideas. ' 

12. Speed Marketing. Speed-marketing is also called as 'turbo' marketing. Turbo marketing is an attempt to emphasize the time value. Everyone has realised that life is short-lived and the philosophy of life and value of life styles is that one should enjoy the best things in life by whatever means- beg, borrow or steal. Again, everyone is thinking in terms of speed-in: making money, having possessions, and this value system has given scope for speed-marketing. Today one is going to succeed when he meets the requirements of consumers well in time. It is a competitive edge that made marketers to compete away the consumers by matching their needs in terms of time. Turbo marketing is generally found is five areas of successful marketing namely, innovation, manufacturing, logistics, retailing and services. The first element is of top importance where others follow automatically. Speedy innovations have changed the world of industry and marketing. It is the latest technology that stems from innovation. At present quartz watches have sent winding watches to trash boxes; gel pens virtually killed fountain pens; plastic or PVC technology has very badly affected the glass industry and, hence, products; synthetic or artificial fibers virtually swept for decades pure fibers like Silk and Cotton, jute and products made of these inputs. If you say 'no' customer other competitors are ready to serve with however the customers.

 13. One to One Marketing. 'One to one' marketing is also called as 'One on One' marketing. For long, markets were segmented on the principle the each person is different having him own likes and dislikes, preferences but such persons with differences can be lumped into broad category on product or personal bases of segmentation and the developing a marketing mix for each such segment. The latest trend is that one is same in all respects because consumer is unique more psychologically and hence his feelings, preferences have to be accommodated. Today's customers are more worried about their status, life-style, showmanship, 

where their individual needs are to be met at any rate. When a customer buys say a cycle, it should be according to his specifications which stands out. One to one marketing implies as if only one customer there and the producer and dealers at his command      meeting all the market mix variables. It is like specific cloth is purchased for his shirt and paint and is stitched according to his specifications in detail not like ready ware. That is the product is to adjust to the customer and not the customer to adjust to ready garments. This concept matches perfectly to the statement "Consumer is the King". , 

14. Word of Mouth Marketing. Three is no better and effective way of marketing through personal communication. This is the latest trend. Today, consumers are in a state of utter confusion as there is influx of competitive products in each area. Whenever a product is launched, the competitive are waiting for the success and the accent of it and ready to launch similar product. In case of mineral water-Bisleri made a thundering success and is continuing; others followed the suit and today we have mineral water branded by international and national companies. Soon the other brands appeared, as 'Aquifers', 'Bellow', 'Kenly'; these are the leading and we have other companies meeting local needs varying from State of State. What is true is true of most of the consumer nondurable and durable goods. A consumer pay their hard earned money through nose, they want real value for money. They do not go by advertisements but the experience of other consumers. Only after gathering good deal of information they decide to go in for a particular brand of a given product. There the recommendation by exposed consumers plays important role. This is known as "Kuchikomi" technique in Japanese language. In advanced nations where TV, press media dominate, of late 60 to 70 precent of consumer goods are made on the basis of word of mouth communication and barely 30 to 40 percent by other means. This word of mouth marketing is supported by other techniques of marketing namely person marketing, image marketing, relationship marketing, compt marketing, direct marketing, net-work marketing, and internet marketing and so on. 

15. Business to Business .Marketing: Many people misunderstand "business to business' marketing to "industrial" marketing. It is because the theme underlying is "reciprocal buying". In other words, market dealings take place on the statement "If you look at me, I will look at you". Reciprocal buying is applicable both in industrial good marketing and consumers' goods marketing. However, business to business marketing is the marketing of goods and services to commercial. enterprises, government departments and even non-profit making organisations who use these goods and services for producing other goods and service for sale back to industrial customers. In other words business to business marketing is the marketing that takes place between two business parties namely business buyers and sellers and not the final users for final consumption. Reciprocity is the natural base because the market for such products are highly concentrated, purchases are not very regular, the unit of purchase though lesser in number, the value is of high order and marketing deals take longer negotiation period. It is not one man's decision as in case of consumer goods but the organisational decision. 

CONSUMER VALUE SATISFACTION AND RETENTION  

The Rex of the colourful world of marking is the CONSUMER. Each industrial unit and marketing unit is working hard in understanding his or her mind because mood of market changes like a fickle minded mistress. Marketing and marketing management activities have come up in a big way to understand the consumer.  All though his or her mechanism of inner feelings. Infact the, the science and art of marketing management has failed him or her mechanism of inner  of his to the marketers are converted into  management has failed him or her to understand at all the time, at all the place, all the  consumersr problem and challenge into satisfactory solutions and opportunities will surive and survive successfully Undetstanding the  she is a unique rational and social animal. The challenges of his to the marketers are c opportunities. It is only those firms which are ca1able of  surive and successfully. Understanding the Rex and the Regina  of marketing world is not an easy tak. With all care and caution, the actual calaulations made on factual data, kiss the dust. President of America has ordered an inquary into 400 billion dollars  scam in 

information technology on 28th June, 2002 caused by overstated 'the profits on corporate world. Therefore, the marketers, and hence, producers and manufacturers have to be able to read the real needs of consumers. give them real value for money, retain them longer. That is why this  chapter deals with these major and critical aspects as marketing tasks that starts With consumer value or consumer value chain and ends with retaining the consumers at any rate and cost longer.