INTRODUCTION TO MARKETING: -
Marketing is one activity which all of us seem to observe around us.
Any time you try to buy something, marketing has a role to play. It is
often viewed by many as being advertising or sales promotion or
marketing research. But it is a concept much larger than any of them or
all of them put together.
Marketing consists of all those activities designed to create exchanges
which satisfy human or organizational needs or wants in a way that
brings profit for the firm. It performs the task of both identifying and
satisfying the customer needs. This helps business enterprises in
anticipating customer demands and creating satisfied customers
through conception, production, promotion and physical distribution of
goods and services.
No example can better illustrate this than the popular mobile phone.
The need to communicate from anywhere to anywhere gave way to a
portable device without the requirement of wires.
MARKET AND MARKETING: -
What is market?
Originally a market was a place in a town or village, where household
provisions and other objects were available for sale. The definition of market
has expanded in this globalized world. The traders may be spread across a
whole town or city or region or a country and yet form a market. For example,
stock market, oil and oilseeds market, steel and metals market etc. where
people across the countries can participate in the business without being face