The document discusses the nature and scope of marketing. It defines marketing as the exchange of goods and services to satisfy customer needs and maximize profits. Marketing is both a science and an art that guides business activities from understanding customer wants and developing products to sales, promotion, and financial management. The main goal of any business is to market its products or services in order to satisfy customer needs through the exchange process.
The document discusses the nature and scope of marketing. It defines marketing as the exchange of goods and services to satisfy customer needs and maximize profits. Marketing is both a science and an art that guides business activities from understanding customer wants and developing products to sales, promotion, and financial management. The main goal of any business is to market its products or services in order to satisfy customer needs through the exchange process.
The document discusses the nature and scope of marketing. It defines marketing as the exchange of goods and services to satisfy customer needs and maximize profits. Marketing is both a science and an art that guides business activities from understanding customer wants and developing products to sales, promotion, and financial management. The main goal of any business is to market its products or services in order to satisfy customer needs through the exchange process.
OF MARKETING INTRODUCTION Main objective of any business organization is to satisfy the needs and wants of the society.
Production or purchase is of no meaning if a firm
is unable to market its goods and services.
Marketing is the focal point of all business
activities. NATURE OF MARKETING Exchange is the essence of marketing.
Marketing starts and ends with customers/
consumers.
Marketing is goal oriented and the goal being
profit maximization through satisfaction of human needs. NATURE OF MARKETING Marketing is a science as well as an art.
Marketing is capable of guiding and
controlling business. SCOPE OF MARKETING Marketing has a very wide scope it covers all the activities from conception of ideas to realization of profits. Some of them as discussed as below: Study of Consumer Wants and Needs Study of Consumer Behavior Product Planning and development Branding Packaging Sales Management Promotion Finance