Today’s operating environment is characterized by rapid change and change is the only constant attribute of the operating environment. This era is uniquely characterized by speedily changing varied consumer preferences and tastes and hence the concepts which were prevalent during the period of Industrial Revolution can no longer be applied in the modern environment. During those times, consumers were complacent and used to settle with the products that were manufactured and sold. The needs were modified in line with the products available. However, there has been a paradigm shift in the focus of the modern day organizations away from the concepts of production to adopt the principles of consumerism. The present scenario mandates organizations to impart king like treatment to their customers, courtesy the advent and development of the IT revolution which has led to broadening of the knowledge base of the customers and have made them much more informative. The intensity of rivalry in the marketplace further adds to the increased power of customers and shifts the ball in their court. The current marketplace is occupied by varied number of players who compete in the same sector. The operating environment is also unstable on account of the interaction of the complementary forces of deregulation and technological advancement and development, most importantly globalization. Companies are compelled to create a separate identity for themselves in this market place so as to be visibly heard by the consumers in this marketplace crowded by the clutter of various noises. The differentiating strategy chosen to achieve this objective is labeled in the modern parlance as the strategy of “MARKETING”.