MARKETING

 What is Marketing? 

          Marketing is a process in business activity in which product are Matched with market and transfer of ownership is affected.   

"Marketing consist of the performance of business activities that direct the flow of goods and services from producer to suppliers to consumer or end-users."

• Marketing is the result of interaction of many activities.
• The ultimate aim of marketing is to satisfy human wants.
• Marketing process start with the arising of consumer need.

     (Nature of Marketing)

1. Marketing is consumer-oriented -:                                                       A business exists to satisfy human needs therefore, business must first find out what the consumer want  and then produce goods according to need of the consumer. Only such a product should be produced which best satisfy consumer need and at a profit to maker.
2. Marketing start and end with customer need:-  It is highly essential to know What the consumer really want.       This is possible only when information is collected from the consumer In older day the producer was in direct contact with consumers but after mass production system this limit was broken.
3. Market matching:-  A marketing transaction take place where there is successful matching of buyer and seller take place. The seller has the bargaining power over the feature of product, on the other hand the buyer acquires his bargaining power from the usefulness of the product.
4. Marketing is a science as well as Art:- Marketing was born as a step child of economics but later on it has moved into closer relationship with other social and behavioral sciences. Marketing is an Art in the sense that a considerable body of rule and principles on buying, selling, financing, standardization, market information etc. But later developments have changed the art base of Marketing into a science bases.
5. Marketing is a system:- Marketing is a system which consisting several interdependent sub-system. It obtain the inputs from the environment (supra system) transform these input and supplies output  (customer satisfaction, profit, etc. 
6. Exchange process:- All marketing process revolves around exchange process. Exchange implies between buyer and seller. The seller hands over product to the buyer who in turn gives money.

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