Explain the following functions of marketing:
Gathering and analysing market information;
Customer support services; and
Nischay, after completing his masters in computer engineering decided to start his own business. He visited his uncle Mr.Jaiprakash who has been running a successful business in web designing. He shared with Nischay that the main reason for his success in the business lies in his approach to building a lifetime relationship with his clients. Therefore, his business is not only restricted to designing web sites according to the specifications of the clients but also providing continuous online assistance to them and handling their grievances effectively and doing all this at a profit. He provides these services at competitive prices. Anybody interested in getting web solutions can contact him through his website. Moreover, whenever the market is sluggish he tries to create demand by offering short-term incentives to the buyers. In the context of the above case:
Define the term ‘Marketing Management’.
Briefly explain the various elements of the marketing mix being pursued by Mr. Jaiprakash by quoting lines from the para.
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