Relationship Marketing

Relationship marketing is a process of creating, maintaining and  enhancing strong value-laden relationships with customers and other stockholders.

Markets

A market is defined as a set of all actual and potential buyers of a  product and service. These buyers share particular needs or wants that  can be satisfied through exchange. The size of a market depends on the  need of people with common needs and has resources to engage in exchange, and is willing to offer these resources in exchange for what they want.

Originally, the term ‘market’ stood for the place where buyers and sellers gathered to exchange their goods, such as a village square. However, Economists often use the term to refer to a collection of buyers and sellers who transact in a particular product class, such as clothing market electronic market, cattle market, etc.

 Marketers

A marketer is someone seeking a resource from someone else and willing to offer something of value in exchange. A marketer could be a buyer and a seller. For example, Mr. X sells TV to Mr. Y or Mr. X produces TV sets in XYZ Company which he bought for personal use.