Marketing

Object Required

Planning for marketing

Principle

Importance of Marketing

Theory

1. Most people think of marketing as just being about advertising and selling of products. However, this is very limited view- marketing embrace much more than just telling people.
   
2. Marketing is the management process in charge for identifying, anticipating and satisfying consumers requirements profitably.
   
3. Marketing is the process of planning and undertaking the conception , pricing, promotion and distribution of goods and services to generate and maintain relationship that will satisfy individual and organisational objectives.
4. it seems form this definition that marketing involves a number of related management functions. These include: Market research,product design,pricing,advertising,distribution,customer service,packaging.
5. Marketing the management task that link the business to the customer by identifying and meeting the needs of customers profitably - it does this by getting the right product at the right price to the right place at the right time.
6. Market size can be measured in two ways: volume of sales(unit sold) or value of goods sold (revenue).
7. A marketing manager can be assess whether a market is worth entering or not. Enterprises can calculate their own market share. Growth or decline of the market can be identified.

Conclusion

So, marketing is a very essential business activity! Marketing activities are all those associated with identifying the particular wants and needs of target-market customers and then trying to satisfy those customers needs better than your competitors do. This means that market research is needed to identify and analyse customers needs. With this knowledge., strategic decisions must tan be taken about product design, pricing, promotion and distribution.

Published Date

01 Mar, 2018