(Chp01 MARKETING)What is marketing?

Marketing is about identifying and meeting human and social needs.

(2) Marketing means to satisfy the need and wants of target customer and to build and

maintain a strong relationship with the customer. Is called marketing.

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What is marketed?

Marketing people market the following entities, these are

(1)Goods. physical goods can be marketing in the bulk quantities most of the countries can be marketing large number of goods such as

machines tools.truck,television sets ,industrial chemical etc

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(2)services.

Services can also be marketed, such as airline services, hotel restaurant services,

lawyers ,doctors these are provide services which can be marketed.

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(3)Events

Marketer promote time based events, such as major trade show and company anniversaries.

(4)Person. can also be marketed such as artists, cricketer etc.

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Who markets?

If two parties are seeking to sell something to each other we call them both markets. Marketer

need to identify market demand time to time which meet the company objective. Marketer can

identify the following demand stages, these are(1)Negative demand. when consumer dislike the

product, so consumer can not purchase the product

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(2)Nonexistent demand

Non existent demand is that when consumer can not aware are can not interesting in the

product.(3) Latent demand. Consumer may share a strong need that can not be satisfied by an

existing product.

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(4)

Declining demand. Consumer begin to buy the product less frequently.

(5) Irregular demand. Consumer purchase vary on a seasonal, monthly,weekly,daily

basis.

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(5) Full demandFull demand are that demand which

customer purchase all these product which are available in the market place.

(6) Overfull demand. Overfull demand is that when the demand is high against the market

supply.

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Key customer market

Consider the following key customer market consumer market,business market, global

market and non profit market.(1) Consumer market. companies selling mass

consumer goods and services such as soft drink, cosmetics etc.and consumer market

customer can consume product in for personal consumption.

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(2) Business market

Business buyer buy goods and order to make or resell a product to other at a profit.

Business market must demonstrate how their product will help these buyer achieve higher revenue or lower cost. Advertising can play

important role ,but the sales force, price and the company reputation for reliability and

quality may play a stronger one.

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(3)Global market.

Company selling good and services in the global market place. Company face additional

decision and chellanges.they must decide which country to enter, how to enter, how to adopt their product and services features to

each countries. How to price their product in different countries.

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(4)Non profit and governmental market.

Company selling their product to non profit organization such as school, hospital, charity.

The aim of purchasing of these type of product is to improve the society.

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Company orientation toward the marketplace.

Company orientation means to evolution of the market. It means traditional market can be

converted into new market. There are some evolution which market can be goes in these

stages.

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CON…..

(1) Production concept. The production concept is one of the oldest concept in this

concept company can produce more and more goods .company can not study the need and wants of customer but he can manufactured

the product.

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(2) Product concept.

The second evolution of the company is the product concepts. In this stage marketer identified these need that product can be

manufactured according to the need of the customer. In that product can be

manufactured which customer can wants it.

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(3)The selling concepts.

The third concept of the market is the selling concept. In selling concept company can

realize these need that there are some outlets can be establish which company can sell our

product.

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(4) Marketing concept.

In these concepts marketer identified these need that it is important to communicate

message to different customer and provide information about the product, for this

purpose company can use holistic marketing concepts. Such as integrated marketing

concept. And relationship marketing

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What is market place, market space.?

Market place when some one can purchase product in the shop, such as retailer, this is

called market place.Market space. When some one can purchase

product in the electronic system such as internets this is called market space.

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Marketing channel.

To reached a target market a marketer use three kind of channel. These are

(1) Communication channel. communication channel deliver and receive message through

different buyer it include newspaper, magzine,internet,radio,television.

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CON…(2) Distribution channel.

The marketer use distribution channel to display, sell or deliver the physical product to

the buyer or user, these channel include retailer ,wholesaller,and sales force.

(3) Services channel. The marketer also use services channel to carry out transaction on

potential buyer services channel include transportation companies, Bank and insurance

companies.

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