COOPERATIVE BUSINESS AND RELATIONSHIP MARKETING: A MODEL APPROACH

Marketing as a function occupies an important position in the organisation of a business firm. The traditional concept of marketing explained above refers to the physical activities involved in the process of distribution of goods. But, its modern concept is more than a mere physical process Relationship marketing is a new field of marketing which has received increasing attention late in 1980s. In a narrow sense relationship marketing is the retention of present customers and attracting the potential ones. However, in a broader concept it includes internal marketing, supply markets, influencer markets, consumer and industrial markets, service marketing. Adherents of relation marketing claims that understanding of marketing is changing from “transaction” to “relationship”. The main idea of relationship marketing is long lasting relations with all stakeholders. In transactional marketing price is the basic motive to attract customers. According to relational marketing prices can be easily matched. If you can offer the buyers a “value”, it will create customer loyalty