The nature and definitions of marketing

Social marketing

Product component of the marketing- mix involves planning, developing and producing the right type of products and services. Marketing is an Economic Function Marketing embraces all the business activities involved in getting goods and servicesfrom the hands of producers into the hands of final consumers.

Marketing mix The four Ps, often referred to as the marketing mix or the marketing program, [31] represent the basic tools which marketers can use to bring their products or services to market.

Pricing Policies Marketer has to determine pricing policies for their products. Production planning and development Product planning and development starts with the generation of product idea and ends with the product development and commercialization.

Kotler and Armstrongp. Free samples, prize contests, premium on sale, displays, shows and exhibitions, etc. Marketing is not interchangeable with selling.

The Nature of Marketing

How may you influence public opinion? It recognises the social element of the marketing process. It is the function of informing and influencing the customers. Marketing is human activity directed at satisfying needs and wants through exchange processes. In the determination of distribution-mix or marketing logistics, a firm has to make decisions with regard to the mode of transporting of goods to middlemen, use of company vehicles or a transporter, the route over which the goods are to be moved, type of warehouses where the goods are to be stored, etc.

Promotion-mix involves decisions with respect to advertising, personal selling and sales promotion. Pricing policies differs form product to product. Marketing Control Marketing audit is done to control the marketing activities.

Demand, cost, competition, government regulation, etc. Personal selling is particularly useful when the product is of a technical nature or where goods are to be sold to industrial and commercial establishments. Sony, for instance, dominated the portable music player market for many years after it introduced its Walkman in Thus, marketing-mix basically concentrates on the customer.

The product element consists of product design, new product innovation, branding, packaging, labelling. Production may oppose the installation, support and servicing of new capital stock, which may be needed to manufacture a new product.The Nature and Scope of Marketing.

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Marketing-Mix: Definition, Nature and Determining the Marketing-Mix

a. new model of the scope of marketing help resolve the "nature of marketing" and "marketing science" controversies? D. URING the past three decades, two con­ The Nature of Marketing.

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Marketing-Mix: Definition, Nature and Determining the Marketing-Mix! Definition of Marketing-Mix: According to Stanton, marketing-mix is a combination of four elements—product, pricing structure, distribution system, and promotional activities—used to satisfy the needs of an organisation’s target market(s) and, at the same time, achieve.

Jul 08,  · Marketing Management, Chapter 1: Defining Marketing for the 21st Century Definition of Marketing According to American Marketing Association () - "Marketing is an organisational function and set of processes for creating, communicating and delivering value to customers and for managing relationships in a way that benefits both the organisation and the stakeholder.".

Marketing: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. 2 Understanding the nature of social marketing Definitions of marketing Before we focus on ‘social marketing’ we should clarify the nature of ‘marketing’ as both an academic discipline and a .

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The nature and definitions of marketing
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