Market Size = fn (Number of people who have need/ want have resources that interest
MARKETING NETWORK: It is made up of the company and its customers, employees, suppliers, distributors, advertisement agencies, retailers, research & development with whom it has built a mutually profitable business relationship.Ĭompetition is between the whole network for market share and NOT between companies alone.Ī market consists of all potential customers sharing particular need/ want who may be willing and able to engage in exchange to satisfy need/ want. The outcome of Relationship Marketing is a MARKETING NETWORK. Relationship marketing:- It’s a pattern of building long term satisfying relationship with customers, suppliers, distributors in order to retain their long term performances and business. NEGOTIATION: – Process of trying to arrive at mutually agreeable terms.