Introduction to Marketing

Marketing: It is an essential
activity for the satisfaction of
human wants, for raising
social welfare and for
promoting industrial and
commercial activities.

Features of Marketing
Regular & continuous economic activity.
Satisfaction of human wants.
Relates to goods & services.
Transfer of ownership.
Creates utility.
Widens socio-economic significance.
Marketing mix.
Precedes & follows production.

Advantages of Marketing
a. Provides profit & goodwill.
b. Facilitates specialization & division
of labor.
c. Improves standard of living.
d. Brings economic growth.
e. Facilitates price control.
f. Introduction of new items.
g. Stability to marketing firms.

Scope of Marketing

Marketing research
Product planning & development.
Pricing.
Advertising & Publicity.
Sales promotion.
Packaging.
Branding & labeling.
Test marketing.

4 Ps of Marketing
Product
Price
Place
Promotion

4 Cs of Marketing
Customer benefit
Customer
Convenience
Customer
Communication
Customer Cost

Selling v/s Marketing

Selling
Selling directs flow of
goods & services from
producers
to
consumers.
concentrates
on
selling profit making.
Consumer is the last
link in the business.
Importance to selling.

Marketing
Marketing directs want
satisfying
goods
&
services to present &
potential customers.

concentration
on
satisfaction
of
consumers.
Consumer is the purpose
of marketing.
Importance to marketing
research.

Concepts of Marketing

Exchanges
Needs
Transfers
Wants
Transactions
Demands

Orientations of a firm

Production concept
Product concept concept
Selling concept
Marketing concept
Social relationship marketing
concept
Holistic concept