What is the Speech of Marketing? Marketing is the study and management of exchange relationships. Marketing is the business process of creating relationships with and satisfying customers. Everybody lives by selling some products, services or ideas. Generally, marketing is considered selling and promotion. So, what is the question we are going to discuss; How should the Speech of Marketing be done?… Read in Hindi!
Here is the Concept of Marketing explained the Speech of Marketing.
It is but one of several marketing functions and that too not the most important one. It means taking certain other steps, such as identifying customer needs, developing a good quality product, fixing reasonable prices, distributing and promoting the product effectively. Then his goods will sell very easily. According to Kotler and Armstrong as, “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others.” However, making a sale, i.e., selling is the old sense of marketing. In its new sense, marketing is satisfying customer needs. Selling is only one aspect of marketing.
The Concept of Marketing:
The “Consumer-oriented” marketing has led to a new philosophy of doing business known as “marketing concept”. Under this concept, marketing is much more than a physical process of distributing goods and services. It is a distinct philosophy of business under which all business activities are integrated and directed to supply the goods and services which customers want, in the way they want, at the time and place where they want and at a price which they are able and willing to pay for.
Speech of Marketing:
Marketing is a vital function of any business. An enterprise in which marketing is absent or marketing is incidental is not a business. The origin of marketing can be traced to the oldest use of the exchange system i.e., the barter era. Industrialization is important for marketing evolution. With the onset of mass production, better transportation, and more efficient technology, goods and services could be made in large volume and marketed at optimum prices.
This is the production era of marketing. With more and more companies taking up manufacturing activities and expanding production capabilities, many of them employed, Sales-force and used advertising for the sale of their products. This is the beginning of the sales era of marketing. This stage commenced in the advanced countries in the early 1800ad and for a developing country like India, it started in the early last century.
As the competition grew and supply outstripped demand, the business units created marketing departments to conduct consumer research and advise the management on how to price, distribute and promote their products. This is the onset of the marketing department era when the research was used to determine consumer needs. Subsequently, the marketing company Era commenced and integrated consumer research and analyzes into marketing concept, marketing philosophy, customer service, customer satisfaction J and relationship marketing.
The above five elements of the marketing concept are very important for the success of any business organization. A consumer orientation means caring for consumer satisfaction and goal-orientation aims at achieving company goals.
A market-driven approach means being aware of the structure of the marketplace and the value-based philosophy means offering goods and services for customer satisfaction. A company coordinates all the activities relating to goods and services with an integrated marketing focus for production, finance, human resource, and marketing functions.