What is a product ?
It is any offering that statisfy human needs and wants. It is a broad concept and we can consider Goods,Services,Places,Events,people,Skills and more as procuts.
Brand is an offering from a known source.
Eg:- McDonald offering fast foods , fun and other services which people have in their mind.
Value is the ratio between what consumer get and what he gives. The consumer gets benefits and he assume costs.
Value = Benefits/Cost
Relationship Marketing - This aims to build long term mutually satisfying relations with key parties like consumers,suppliers in order to earn long term preference and business relationships. It may help to reduce transactional cost and save time.
The ultimate outcome of relationship is called as Marketing Network.Marketing netwrk consis with company and its supporting stakeholders with whom it built mutually profitable business relationships.
Marketing Channels
To reach target market, marketers reach 3 types of marketing channels.
1, Communication channels
2, Distribution channels
3, Selling channels
Communication channels consist with deliver messages to and received messages from target market. They include newspapers,megazines,radio,mail,telephone and internet.
Supply chain describes a longer channel stretching from law materials to components to final products.
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