Definition of Marketing
- Marketing is defined as “Exchange of goods and service for the money and to satisfy the consumer by identifying the consumer needs and wants towards achieving the organization goals is called marketing.”
Marketing includes (i) Exchange of tangible and intangible goods and service through money.
(i) To sell the product to consumer in the easily way.
(ii) Identifying the consumer needs and satisfy the consumer.
Marketing Management includes all the process of between the purchasing of raw material and to sell the product process.
(i) Purchase:- Marketing Management including the purchase of raw material.
(ii) Process:- Manufacturing of the products as to the needs of consumer is also includes in M.M.
(iii) Standardizing and classification of goods:- One of the important function of M.M. is to standardizing the goods and make more alterative the goods by packing in it various packing.
(iv) Transportation and distribution of goods:- Transportation is also includes in the M.M. transportation and distribution of ready to sell goods is also done by marketing department the organization.
A : Function of Marketing
(i) Purchase of goods: One of the important functions of marketing is to purchase of raw material to make goods.
(ii)Identify the needs of consumer: the important function of marketing is to identify the needs and wants of customer and then produce the goods accordingly to the needs of consumer.
(iii) Standardization of goods: the standardization of goods is also includes in function of marketing. It includes the make good more attractive by packing it or make the necessary change in goods.
(iv) Transportation or distribution of goods: transportation or moving the goods from manufacture to distributor or consumer is also includes in marketing.
(v) Publicity or advertising of goods: The advertising of goods or inform the customer about our product and make him queries about the product is main function of marketing.
(vi) Sales of goods: Selling of good is the main function of the marketing. If there is sale then there will be no profit and organization will go to the loss.
(vii) After sale service: If we maintain a good relation to our customer even after sale for ex giving more service related to good. If we sell a car or motorbike then we have to gibe the customer service of spa reports facility. If the we service the automobile then customer has no need to go any where consumer will come again to us this is also come into function marketing.
