Introduction to Marketing

Nature of Marketing

Marketing is a

• human activity 
• socio-economic activity
• consumer-oriented process
• the core of marketing is product/service
• both art & science
• universal activity

Characteristics of Marketing

Marketing is a

• socially pervasive process
• organization-wide function
• both art & science
• voluntary exchange of values
• achievement of organizational objectives & customer needs
• selection of target market
• beneficial to all stakeholders

Scope of Marketing

• All decisions related to products like size, colour, design, packaging, etc are taken with an active participation of marketing dept. of the company.
• All the decisions related to the consumer are taken after having studied the consumer's response with respect to the different products, different prices and brands.
• All the promotional decisions, like choosing type of marketing media, are also being taken under marketing activity
• An effective after sales services is formulated by the marketing manager in order to satisfy the consumer.

Objectives of Marketing

• Provide satisfaction to the consumer
• Increase the demand
• Provide better quality products to the customers
• Create goodwill for the organisation
• Generate profitable sales volume

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