Legal Relationship with Powers and its Legal Issues and Implications Essay

Legal Relationship with Powers and its Legal Issues and Implications - Essay Example In my opinion, the relationship is not a limited partnership as Powers played an active role in the management of the computer business. In Ontario, limited liability partnerships can only be used for carrying on a profession, where statute permits. Examples include lawyers and accountants (Shani, 5). The relationship between Lawrence and Powers is thus not a limited liability partnership as they are not in a profession such as doctors and lawyers but rather entrepreneurs in the copier and computer renting business. A partnership is a relation that subsists between persons-individuals or corporations-carrying on a business in common with a view to profit (Shani, 2). A partnership can be a formal relationship (that is, express partnership agreement) or an informal relationship. The court may hold that the relationship is a partnership even if the parties don't realize they are in a partnership (deemed partnership) (Shani, 3). But the receipt of such a share or payment, contingent on or varying with the profits of a business, does not of itself make the person a partner in the business, and in particular, a contract for the remuneration of a servant or agent or a person engaged in a business by a share of the profits of the business does not of itself make the servant or agent a partner in the business or liable as such (Shani, 8). Lawrence told Powers, "If you will agree to operate the new computers, I can pay you more by sharing the profits from that branch of our new business with you." Powers agreed. Hence, there is a relationship that subsists between Lawrence and Powers to carry on the personal computers renting business with a view to profit. However, more information is needed as to whether there is an employment contract between Lawrence and Powers that makes him a servant or an agent. The relationship between Lawrence and Powers for the personal computer renting branch of the business is assumed to be a partnership since there was no mention of contract by Lawrence. Even if Powers is not aware that his relationship with Lawrence is a partnership, the court may construe otherwise. Where there is no partnership agreement, the partnership is governed by the Partnerships Act (Shani, 5). The Partnership Act sets out the fiduciary duty of partners. No partner is allowed to incur secret benefits - that is, each partner must account for all benefits received by him/her personally from any transaction arising from the use of the partnership's name, property or business connections - if he/she fails to get permission of his/her partners beforehand, the benefit then belongs to the partnership (Shani, 6). Applying the law to the case, Powers purchases the computers from Intelli Inc., an office equipment and supply company of which shares are held by Hugh Powers mother and father. Powers has incurred secret benefits because the purchase price of the computers entered into by Powers was at the manufacturers suggested retail price and did not reflect any form of volume discount, even though volume discounts were routinely given by

Merchants of Cool-Movie Review Movie Example | Topics and Well Written Essays - 750 words

Merchants of Cool- - Movie Review Example This is indeed a very conservative approach. Quite often, the product being promoted is not in the best interest of the children or the society at large, but Merchants of Cool indicates, â€Å"in order to remain cool, you have to keep ahead of the curve† (Sine, 2008, p. 85). The Merchants of Cool portrays both media and corporations negatively. This is so because it reveals a disturbing scenario, depicting how many corporations see teenagers, not as persons with real life, issues and problems, but as talking and walking dollar signs and as possible marketers of their products. There are many other tormenting issues in the movie if not somewhat unreasonable ideas. For example, the idea that individuals are made to look trendy are just ‘plants’ by corporations to influence peers to have a sensation that they should buy something for them to look like the person is extremely disturbing. This is because they can be found anywhere. This aspect does not perpetuate a sen se of unity among the youth who should feel with each other rather a very strong sense of jealousy and suspicion. It is undoubtedly evident from the documentary film that it is attempting to portray corporations and media negatively so as to reveal the truths (Sine, 2008). However, the most disturbing question that one may ask is, â€Å"How truthful is this?† Just like the anthropologists, the cool hunters search for teenage cultures and employ the early teen trendsetters to design new products and develop new marketing strategies, to hook the teenagers (Sine, 2008). These teenage cultural studies are seen through interviews held with some marking gurus drawn from big corporations, and MTV. The first encounter is with Todd Cunningham of MTV who narrates how MTV engages in research so as to be able to understand teens, including their sources of Gold studies and Ethnography. The other is Sharon Lee and Dee Dee Gordon, the co-founders of Look-Look, which is a research corporati on that specializes in youth culture. They outline how their company is searching out teen trendsetters searching for what is cool, how the corporations use the information they gather and challenges in their guest. Sine (2008) notes that increasingly, the merchants of cool find new stealth technique to persuade and encircle the teenagers. He notes that they use acquaintances, friends, buzz, sleepovers, and at times youth groups to show example of the latest glam fashions, technologies and cosmetics. It is then that they pay cool teenagers to persuade their friends to become cool insiders by buying the cool products. The documentary reveals that marketers at times resort to using rebellion and anarchy to sell their products. By watching the ad, one can clearly notice that the merchants of cool not only market the opportunity to be an insider, but they also communicate that the youths can find their sense of self-worth, identity, life purpose and spirituality by living in the fiction al stories that the company storytellers of cool create for them (Sine, 2008). The movie also depicts the popular media culture of trying to use issues that they feel the audience like most to sell their agenda. For instance, marketers know very well that â€Å"sex sells.†

Quantum mechanics of atoms Essay Example | Topics and Well Written Essays - 1250 words

Quantum mechanics of atoms - Essay Example This paper hence sets basis on the comprehensive and extensive discussion of the concepts behind this entire topic. It tries to bring out the general understanding as well as the practical application of this ultimate topic. Quantum mechanics of Atoms refers to the scientific study of smaller segments of scientific principles ascertaining on the behavioral properties of matter and their ultimate relations with energy based on the atomic scale as well as the subatomic particles [2]. The Classical physics describes energy and matter on a given scale that is recognizable to the human experiences such as the behavior regarding the astronomical bodies. It is the key element towards measurement for the greater part of the technology and modern science. However, scientists have since discovered the phenomena in both macro and micro worlds that cannot either be explained by classical physics. The Scientific Revolutions structure that often comes to terms with such limitations has led to major revolutions within the physics concept thereby creating a shift regarding the original paradigm involving the relativity theory and the quantum mechanics development [6]. This paper hence describes the way various physicists revealed various limitations of the classical physics as well as the development of the primary concepts regarding quantum concept that restored it in early 20th century decades. Quantum generally refers to the minimum quantity regarding any form of physical entity that is involved in a process of interaction. Light often behaves like particles at times and like waves in other respect. Matter thus refers to the particles including the atoms and electrons, and also tends to exhibit a wavelike behavior on the other hand. Some of the light sources that include the neon lights usually emit certain discrete light frequencies. The Quantum mechanics indicates that light as well as

Litrature Review Essay Example | Topics and Well Written Essays - 500 words

Litrature Review - Essay Example The question is: How can these concepts be squarely applied in risk assessment Hiring qualified people, just like what Machiavelli opined, is among the practical skills generally associated with good leadership. As corroborated by Grint (1997), an effective leader invariably chooses competent associates and subordinates who can give straightforward and well thought-out recommendations in response to specific problems to carry out any undertaking regardless of their interests. This is where the significance of "risk managers" is realized and appreciated. Evidently, leadership and risk assessment have an overt interplay which produces desirable results especially when applied in cases wherein business forecasting is crucial to a company's success. As a result, the essence of risk assessment in the overall success of an organization is not only valued but also highlighted. According to Slywotzky, A. and Drzik, J. (1995), effective leaders imbued with knowledge in risk management are needed so that failure can be foreseen, avoided, or addressed. As pointed out by leadership theorists, not all individuals can become ideal or effective leaders. As such, certain traits have been identified to find out who can carry out specific tasks in relation to risk assessment and risk management as a whole (Slywotzky, A. and Drzik, J. 1995). Th

McDonald's Corp as a Best Corporate Citizen of 2010 Research Paper

McDonald's Corp as a Best Corporate Citizen of 2010 - Research Paper Example The idea is to ascertain the strategies of the company that allowed it to earn this status and to write about its socially responsible business activities. The paper will outline how McDonald’s activities improved its sustainability in contributing towards making the world a better place. A discussion will be made of the company’s specific business values that motivate its activities relative to accountability, transparency, and employee engagement for improving sustainability.  The paper will also focus on what further innovations the company might make to continue to improve sustainability. McDonald’s Corporate Social Responsibility For the last several years, McDonald’s Corporation has been setting examples of corporate social responsibility (CSR), which primarily includes the creation of a sustainable supply chain system and engagement in community based developmental projects. CSR basically relates to a company’s behavior whereby it behaves i n a social and responsible manner and deals with other businesses that adopt the same policies. With the increase of public awareness, recent years have seen increasing demand for socially responsible businesses, which is why contemporary companies give importance to CSR while making plans for socially responsible business processes. It cannot be doubted that McDonald’s Corporation has excelled in the implementation CSR practices in most of its functions across its offices throughout the world (McDonald's, 2011). In being the world’s biggest chain of fast food restaurants, McDonald’s considers that CSR is about taking concrete action, accomplishing results and sustaining openness in communicating with consumers and other major stake holders. The company closely collaborates with its suppliers in promoting socially responsible systems within the supply chain in keeping with its supply chain policy and complying with its larger strategy based Framework for Corpora te Social Responsibility. McDonald’s has clearly stated on its CSR website that it abides by its code of conduct prescribed for suppliers, which explains how the company requires its suppliers to deal with their workers. In keeping with its supply chain strategy, McDonald’s will carry forward its policy of social accountability across all its supply chains. It has already been successful in improving conditions of farm workers in several locations who in turn promote positive environmental systems in land based agriculture supply chains, thus creating sustainability in agricultural activities. For instance, by inroducing industry leading growing standards for tomato farmers in Florida, McDonald’s made improvements in the working environment of tomato growing establishments and transformed them into sustainable businesses. Community Involvement through Community Based Projects One of the approaches to engage in CSR is by adopting community based developmental pro jects. Community driven and community based developmental projects are considered important forms of providing development support by international socially responsible organizations. Economic relationships in this regard mean the adoption of strategies involving the larger community in the main business activities of the organization. This allows communities to become effectively involved in corporate supply chain stra

The Negative Effects of Child Care on Child Development Essay Example for Free

The Negative Effects of Child Care on Child Development Essay Parent care Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Parent or child care is where parents take appropriate measures to ensure that children grow in environment where their emotional, social and educational needs are considered. The early stage of a child’s life is critical for cognitive, emotional and social developments. Parenthood is a task that requires full time dedication since children require more attention. Parenting also requires a lot of skills and energy to understand children wants which makes them happy and comfortable. Children also require time to talk and play with their parents which makes them feel appreciated. Poor parenting makes the children feel abandoned and unwanted since children miss an opportunity to interact with their parents.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Household chores such as cooking and washing are very vital to parents, also making children joyful and relaxed. Professionals suggest that parents should engage their children in household work. This makes children to feel that they participate in small chores. This will as well hasten the communication involving parents and children and the care will remain integral. Child development depends on secure affection to a principal caregiver. Child development is one of the most significant stages in a kid’s life and if the stage is not handled in an appropriate manner, the child is likely to face social and emotional suffering.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Parents are left with the task of balancing between office work and their responsibility at home. This is not an easy task though, but it involves prioritizing and preplanning the works which will help the parent have an easy time to balance between family life and office life. Parents should ensure they have ample time with their children whenever they are at home. They can also take children for an outside dinner or shopping. This occasions help to maintain the affectionate rapport between parents and their children. The parent can ask the children to suggest as they purchase household items and also buy them sweets and gifts. Parents should have conversations with their children whenever they get time to interact. They should ask them about their personal issues, studies among other things which will make feel that their parents are concerned in all phases of their life.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Parent or child care involves coping with the children behavior, however it includes correcting and showing appropriate mode of conduct. The parents should not complain express anger or work related tensions to their families. This will make the children feel like they are the cause of pain and trouble to their parents and they may gradually shift away their emotions from their parents. Parent care also involves considering the health of the children since small kids are susceptible to sicknesses such as fever, pneumonia, colds among others. Parents should also guide their children in their early ages as they gradually become independent. Children tend to rebel from their parents, try new behaviors from peers of the same sex as they grow up. Parental guidance and care become more necessary since children are likely to make serious mistakes from the peer influence. Parents should also identify behavioral and learning disabilities from their children since some of these problems can get worse if they are not handled properly. Research shows that children who grow in families where development needs are not met are at greater risk of delays in either language or learning among other areas.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Research reveal that kids who grow in families rich in literacy and learning interactions and additional opportunities to listen and use language easily acquire the necessary skills in their early childhood years. Parents are the kid’s primary and very crucial teachers. Parents should also provide their children with opportunities to interact with other people. This is one of the reasons why some children fear to go to school since they do not know how to make new friends. Good parental care will help children develop social skills such as leadership, compromise and co-operation which are very vital in child development. Research shows that parental gradual exposure to social situations helps kids to face their worries and anxieties. Good parental care will not only help the child to have good social skills, but it will also help them have self-confidence.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Parent can also help the child to speak through practice dialogue at home via regular conversations. For example, parents can ask open-ended questions to test their kid’s response. Through listening and sympathizing, parents show their emotional concern to their children. In addition putting jokes in conversations makes the conversation lively as well as lightening up the child mood. This will endorse child’s verbal expression and creativity. Through frequent talks, reads and singing to babies, parent can create a solid foundation for glossary and understanding. This helps the children at school since they can be learn the meaning of a word easily and be able to remember their meanings. Parent can improve a child’s word capacity by spending more time with the child. Children need a lot of practice reading which necessitate parent assistance.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There are several forms of care which include health care, appearance care, education care and cleanliness care. These different aspects of care manifest themselves in outside care and in home care. In home care is whereby parents show their care to the children at home since home is the initial step for the children to learn happiness and love. Home care is the most significant care step. On the other hand, outside cares is taking care of children from the society and protect them from harm. Parent care becomes more necessary as children grow since the responsibilities become more. In most cases mothers provide moral care while fathers provide safety and physical care. However, both parents should take care of their children in all phases of life. Parental care is complete when both parents are involved with children affairs. Parents provide different quantity of care and thus children require care from both parents. Parent care is not on ly providing for the child expenses, feeding the child, clothing or providing shelter, but parent care is showing affection and having time with the children to understand their physical, social and emotional needs.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In conclusion, parent care is very crucial to the child development. Parent is the child’s first teacher. There are various forms of care; health care, cleanliness care, appearance and education care. These forms of care are very necessary to the child especially if both parents are involved. Parent care will make the child to feel appreciated and loved. This improves the relationship between parent and child since the affection remain intact. However care should not be exaggerated since it will spoil the child. Excessive care makes the children to be irresponsible and increases the child’s dependency to the parent. Thus parents should provide appropriate care to their children. References http://childcare.about.com/od/theroleoftheprovider/tp/providerstell.htm http://www.prokerala.com/kids/parenting/working-parents-and-child-care.php (2010, 11). The Negative Effects of Child Care on Child Development. StudyMode.com. Retrieved 11, 2010, from http://www.studymode.com/essays/The-Negative-Effects-Of-Child-Care-465509.htmlhttp://ar.scribd.com/doc/57435566/Childcare-Essays-Child-Developmenthttp://www.startimes.com/?t=23272210 Source document

Contemporary approaches to marketing

Contemporary approaches to marketing Introduction Addressing the above topic, this essay aims to bring out the main points regarding the applicability of the marketing mix in the contemporary marketing world. To start with the evolution of marketing and marketing management concept is spoken about, moving on to explaining the marketing mix theory, its drawbacks and the evolution of services marketing leading to a new marketing approach i.e. relationship marketing. Then an evaluation between the two approaches has been undertaken to conclude by emphasizing the importance of the prevailing approach as well as the new approach. The very initial study of marketing emphasized on the allocation and trading of commodities and manufactured goods and found its basics in economics (Marshall 1927 as cited in Vargo, Lusch 2004). Attention was focussed on commodities exchange, the establishment which made goods available and arranged for handing over control of the goods, and the basic functions that were required to help in the exchange transactions (Vargo and Lusch 2004). The study of managerial marketing developed in the early 1950s. During this time managerial theorists defined marketing management as a process of decision making or problem-solving. This approach emerged out of the traditional sales approach and became a broadly accepted function of business stressing on the basics like product planning and developing, pricing, promoting and distributing (Webster, Jr. 1992). These fundamental functions, to supply goods to final consumers and satisfy their needs formed the marketing mix. Evolution and concept of marketing mix The concept of marketing mix was set up in 1960 by McCarthy and the mix of factors was labelled as the four Ps. As defined by Kotler in his book Marketing Management, Marketing mix is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market. McCarthy classified these tools into four broad groups: Product, price, place, promotion (Kotler 2000 p.15). The four Ps symbolise the outlook of the sellers. Robert Lauterborn (1990) recommended four Cs, customer solution, customer cost, convenience, communication, from the customers view to which each P would convey a specific benefit. The theoretical value of the Mix is also underlined by the widely held view that the framework constitutes one of the pillars of the influential Managerial School of Marketing (Kotler 1967; Sheth et al. 1988 as cited in Constantinides 2006). The importance of this tool can be understood by the above statement. The concept of the marketing mix being easy to understand, practice and teach, positioned itself to become the unchallenged universal marketing model and much of further marketing studies evolved with this concept as their basis, making a tremendous impact on the practical world. Drawbacks of the Four Ps Theory On the flip side, the marketing mix approach is based on typical situations which do not fit well in other markets. It was basically formulated for the North American milieu, with packaged goods, aggressive distribution, strong media presence and huge markets, consumers just becoming numbers for marketers, and not presenting an actual situation (Gronroos 1994). Van Waterschoot and Bulte (1992 p.85) also brought out three defects in the Four P model; The properties or characteristics that are the basis for classification have not been identified. The categories are not mutually exclusive. There is a catch-all subcategory that is continually growing. Another disadvantage is that the marketing mix is production oriented, i.e., it focuses on the product and not on the consumer who is the actual end user (Gronroos 1994). For example if Nokia makes a mobile which is very heavy, slow, and does not have the latest features that consumers require, all marketing strategies based on the four Ps , product, price, place, promotion would fail to sell the product, since it is not what the customers want. Here comes in the need for newer marketing approaches, focussing on the needs and wants of customers. A major disadvantage of this approach is that there is no interrelation between the 4 variables of the mix. Every variable or P has a separate working department and plan with no coordination (Yudelson 1999). Not just that, this approach alienates the rest of the organisation from the marketing aspect, and thus distances them from the voice of the customer (Gronroos 1994). Goods to Service dominant logic Over these years there has been a shift from a goods dominated economy to a services, skills, knowledge and processes economy (Vargo and Lusch). As a consequence, the ways in which businesses are carried on and maintained have changed drastically and gradually alongside, various other marketing theories have evolved. From the functional view of marketing mix management our focus has extended to the strategic role of marketing, aspects of service marketing, political dimensions of channel management, interactions in industrial networks; to mention just a few evolving trends (Moller 1992 as cited in Gronroos 1994 p. 7; Constantinides). Service Marketing These changes have also led to a growth in competition. To deal with this, it is essential to recognize the importance of services which can be offered with the core product to add extra value to it and result in competitive advantage (Gronroos 2007). Service marketing grew out of this need. As defined by Gronroos in his book, service marketing is to make customers use the service processes and implement these processes in a way that makes customers perceive that value is created in their processes (p.55). Firms with a service orientation have to centre their attention to the relation with their consumers and other stakeholders. For example, United Airlines throws parties for their privileged customers, where they are informed about the airlines forthcoming services (Holbrook and Hulbert 2002). With growth in service, three supplementary Ps, people, physical evidence and process have also been put forward (Booms and Bitner 1982 as cited in Gronroos 2002) to address customer needs bet ter. Relationship Marketing Therefore, relationship marketing has grown to become a requirement for achieving success in a service market, and a concentration on customer relationship and customer retention has become a crucial need (Gronroos 2007). Marketing is to establish, maintain, and enhance relationships with customers and other partners, at a profit, so that the objectives of the parties involved are met. This is achieved by a mutual exchange and fulfilment of promises. This is the definition of relationship marketing (Gronroos 1994 p.9). Though relationship marketing is in its early years as a conventional marketing paradigm, its significance can be identified to great degree. On the basis of marketing dimensions, relationship marketing encompasses Database marketing, Interaction marketing and Network marketing. Coviello in his journal says, that relationship marketing does not conform only to industrial and service marketing, it relates to all firms including packaged good firms, since it is imperativ e to maintain customer relations in other firms as well (Coviello et al. 1997). The consequence of relationship marketing is that by creating a long-term relationship, two individuals or companies with time discover, understand and conform to the others need better and this eventually benefits both. Marketing Mix vs Relationship Marketing To understand the changing business environment as well as the probable marketing strategies, Gronroos created a continuum, where transaction marketing is positioned on one end and relational marketing on the other end. The main point of difference between the two approaches is that where relationship marketing spotlights on maintaining relations with customers, over a long time period, transaction marketing deals with a single exchange covering a shorter time frame (Gronroos 1994). Therefore it can be said that not in all situations but, generally packaged good businesses will gain from a transaction approach since it is a one-time effort and revolves around a single transaction. On the other hand service based businesses will gain maximum from a relationship approach, since their business revolves around providing services which are continually needed. Examples of relationship marketing based companies are Dell and Apple, who manufacture customised computers and laptops. Changed meaning of the Marketing Mix variables As spoken about above, there has been a dominant shift from goods to a service economy. Earlier the main aim of an organisation was to sell a product to satisfy the needs of the consumers and to make profit. But now, it is not about the product that is provided, rather it is about the total value or utility that it provides to the consumer (Vargo and Lusch). As it is correctly said, the true essence of the customer-centricity paradigm lies not in how to sell products but rather on creating value for the customer and, in the process, creating value for the firm (Boulding et al. 2005 as cited in Shah et al. 2006 p.115). For example, a mobile phone with the latest features would not be of much use to a person who does not know how to use those feature and would provide the same utility as that of an older version. Thus, augmenting the product is not enough, further service such as tutorials in order to help understand the features are required. When the traditional theory was formed, the marketing mix focussed on just the core product and thus price-sensitivity was a major issue. Now with services marketing evolving the value of the product/service is perceived based on the overall value created. Thus for consumers now price is not as sensitive an issue as it used to be (Gronroos 1994). In earlier times place was an important deciding factor for the sale of a product, since transport and communication were difficult. But in the present, with development of such networks, we are globally connected, through mediums such as internet, mobile phones, etc. Even business transactions are now carried on the internet, thus the place factor which forms a part of the marketing mix has now become less relevant. For, example to shop for a Gucci bag earlier we had to go to the store, and it location mattered but now we can purchase and pay for it on the internet, regardless of where the store is situated. Thus, Process is a better label for this essential component of the marketing mix (Yudelson 1999). A relationship marketing approach helps firms to setup a real-time database system which would provide updated information about its clients and their levels of contentment for the products or services provided (Gronroos 1994). To get such extensive information in the marketing mix approach is not possible since the marketers of such organisations dont directly connect with the customers; instead they rely on heavy promotion to sell the products. But in the present times promotion comes second to serving the needs and wants of the customers. Conclusion Practically 40 years later, since the time the Marketing Mix concept emerged in 1960, marketing scholars are pondering over the sufficiency of this marketing approach. There have been rapid changes in business operations due to change in technology and globalisation and it can be said that transactional marketing alone cannot keep up with this transformation. Nevertheless it is evident that no adequate replacement has been known for the marketing mix approach. With the developments in marketing, McCarthys Four P theory must be reviewed to help build on the previous theory and leap to the future. Flexibility, not insurrection or revolt is the best way to come to terms with the changes. The benefit of making changes in the existing thought rather than creating a completely new notion is the fact that the Marketing mix paradigm concentrates on the basics of marketing. Thus any new evolving marketing theory must take into account these basics. Relationship Marketing although is a new eme rging paradigm but it cannot function without the basics of the 4 Ps or the marketing mix, since only maintaining relations is enough for a business to flourish. Once the product and its pricing, placing and promotion strategies are developed, maintaining relations to retain the customer is the spot on approach. Therefore, keeping marketing mix approach as the base, relationship marketing or any other contemporary approach must be applied for achieving the best results. References Constantinides, E. (2006), The Marketing Mix Revisited: Towards the 21st Century Marketing, Journal of Marketing, Vol.22, pp. 407-438. Coviello, E. N., Brodie, J. R., Munro, J. H. (1997), Understanding Contemporary Marketing: Development of a Classification Scheme, Journal of Marketing Management, Vol.13, pp. 501-522. Gronroos, C. (1994), From Marketing Mix to Relationship Marketing: Towards a Paradigm Shift in Marketing, Management Decision, MCB University Press Limited, Vol.32 (2), pp. 4-20. Gronroos, C., Service Management and Marketing, Third Edition, John Wiley and Sons, Ltd. pp.1-22, 51-70. Gronroos, C. (2002), Marketing? Toward a Relationship Marketing Paradigm, The Marketing Review, Swedish School of Economics and Business Administration, Vol. 3, pp.129-146. Holbrook, B. M., Hulbert, M. J. (2002), Elegy on the Death of Marketing, European Journal of Marketing, Vol. 36 (5/6), pp.706-744. Kotler, P., Marketing Management, Millenium Edition, Prentice Hall International, Inc. pp.1-32. Lauterborn, R. (1990), New Marketing Litany: 4 Ps Passe; C Words Take Over, Advertising Age, Crain Communications, Inc. pp.26. Shah, D., Rust, T. R., Parasuraman, A., Staelin, R., and Day, S. G., (2006), Path to Customer Centricity, Journal of Service Research, Vol. 9, pp 113-124. Van Waterschoot, W., Van den Bulte, C. (1992), The 4P Classification of the Marketing Mix Revisited, Journal of Marketing, Vol. 56, pp.83-93. Vargo, L. S., Lusch, F. R. (2004), Evolving to a New Dominant Logic for Marketing, Journal of Marketing, Vol. 68, pp.1-17. Webster, F. E., Jr. (1992), The Changing Role of Marketing in the Corporation, Journal of Marketing, American Marketing Association, Vol. 56 (4), pp.1-17. Yudelson, J. (1999), Adapting Mccarthys Four Ps for the Twenty-First Century, Journal of Marketing Education, Sage Publishers, Vol.21 (60), pp. 60-67.