Nature of Marketing - 10 points




Marketing Concepts:


1.Traditional concept

                             It can be expressed as the business activity through which goods and services directly move from producers to consumers.

 

2.Modern  concept

                             It can be expressed as the achievement of Corporate goals through marketing and exceeding customer needs better than the competition.




The Nature of marketing (Modern marketing) may be studied in the following points:-

a)Human activity

                     Originally the term     marketing is a human activity under which human needs a satisfied by human efforts its human action for human satisfaction

b) Consumer-oriented

                        A business exist to satisfy human needs and business must find out the Desire of customer or consumer and thereby produce goods and services as per the need of consumer the only those goods should be produced that satisfy customer needs and at a reasonable profit the manufacturer 

c)Art as well as science

                     Marketing is the art and science of choosing target Markets and  satisfying customers through creating , delivering and communicating  superior customer value .It is a technique of making goods available at right time right place into right hands,right quality in the right form and at the right price.

d)Exchange process

                             All marketing activities revolve around the commercial exchange process. It implies the transactions between buyer and seller it also involves Exchange of Technology,Exchange of Information and Exchange of Ideas.

d)Starts and ends with customers

                          As marketing is consumer oriented ,it is crucial to know the actual demand of consumer this is possible only when required information related to goods and services is collected from the customer. Thus, it is the starting of marketing and marketing end as soon as those goods and services reach into safe hands of customer.

f) Mutual benefits

                           Marketing seeks to achieve benefits for both buyers and sellers .The ultimate goal of marketing is to generate profits through the satisfaction of the customer. 

g) Achieving results/Goal Oriented

                          The activities of the market should be such that they bear the expected and desired results .The marketer must strive to achieve the ultimate goal of marketing that is to generate profits.

h) All types of Organisations

                  Now a days, marketing is not only restricted to profit making organisations but also to service rendering Institutions such as Educational Institutes and health organisations Etc. 

i) Cut throat competition

                     There is no Monopoly in any field of marketing of goods or services .We can see a good number of individuals or Institutions competing to market their goods and services.

j)  Dynamic process    

                   Marketing is a series of interrelated functions. Marketing is a complex , continuous and inter related process. It involves continuous planning , implementation and control.

Visit the Brand new store and get exciting offers and deals

Place : sindhanur 
Address : Badarli complex Beside om textiles Raichur road Sindhanur




Comments

Post a Comment

Popular posts from this blog

Marketing Concepts With Examples

Image
  Marketing Concepts                      The Marketing Concepts are also known as  the History of  Marketing are also known as the Marketing Philosophies . The concept is also taken as the way of thinking .It is looking at the marketing activity on the philosophy in the mind of those who are in the field.  Therefore there are five alternative concepts under which organisations conduct the marketing activities. Types of Concepts:  1) Production concept  2) The product concept  3) The selling concept  4) The Marketing concept  5) The societal concept  Let us discuss these five concepts with which marketing strategies can be designed:- 1) Production Concept - Supply creates Demand    ➡The production concept is the idea that consumers will favour products that are available and affordable.  ➡ Here the concentration is on improving production and distribution.  ➡ In s...
Read more

Buying & selling - Elements & Types

Image
Buying Elements                         The activities involved in buying process are called buying elements or Components or Sub - functions.                           The sub - function of buying involved in buying process can be divided into 5 types as - Making buying plan , Making Contact with , Making a Choice , Talking for Agreement and Making a Contract.                        Professor Tousley and Clark and clark have identified the five components of buying.  They are as follows:- 1) Planning to Purchase                 Planning begins in buyers mind from want or desire of goods. It means buying must be preceded by a good deal of Thinking , Estimating and  Planning. A plan for buying is said to be appropriate only when the following items are f...
Read more

Marketing channel functions - 8 points

Image
  Marketing Channel Functions                 Not only the marketing channel performs many tasks but the members in the marketing channel perform a number of functions and participate in the flow of marketing. Let us discuss these functions in great detail  1) Information Provider                 Since middlemen are close to the customer they can provide information about market like entry of new competitor, changes in cust -omer preferences and demography are some of information that all manufacturers want. They can provide this at no additional cost.  2) Price Stability              Many a time the middleman observe an increase in the price of the products and continue to charge the customer the same old price. This is because of the intra - middlemen competition. The middleman also maintains the price stability by keeping his overhead low.  3) Promoti...
Read more