Introduction to Marketing

Introduction to Marketing. Various Concepts for Marketing and Marketing Mix Concept

Notes

Meaning, Evolution and Importance of Marketing

The activity of buying and selling goods or services is called marketing.Generally,there are two types of marketing they are an old concept and Modern concept.According to old concept, the function of marketing starts only after the production of goods and it automatically ends when they are sold out.Whereas Modern concept states that the function of marketing starts before the production of goods and continues even after the final sale. There are several importances of the marketing and they are : -Customer Satisfaction -Selection facility -Product Information -Standard of living -Revenue Generation -Mass Distribution -Increase in goodwill

Various Concepts of Marketing

The marketing philosophy has undergone a thorough and gradual change.The gradual change can be traced to four periods and captions namely,production oriented period,selling oriented period,marketing oriented period and social marketing oriented period.

Marketing Mix

The combination of all the activities conducted to satisfy the needs of a target market is called marketing mix.It focuses on how to satisfy the needs and wants of the customers so marketing mix is a dynamic concept.It is the mixture of the essential ingredients of marketing in order to push up. There are several components of the marketing mix and they are product,price,place,promotion. The several importances of the marketing mix are : -Meeting consumers need -Integrated approach to marketing -Environment consideration -Providing employment opportunities -Increasing education to consumers -Rise standard of living -Increase in National Income