Unit 1
Introduction To Marketing
If you're learning about the introduction of marketing, you might come across various topics that provide a foundation for understanding marketing principles and concepts. The introduction to marketing typically covers fundamental aspects such as the definition of marketing, its importance, and the key elements involved. It may also include topics like market segmentation, target marketing, marketing mix, and marketing strategies. Let's take a look at marketing topics.
Meaning and Definition of Marketing
Marketing is the management process through which products and services are moved from concept to customer.
Marketing is defined as the series of activities that provides products and services to meet customer needs and achieve organizational goals.
Historical Development of Marketing
- stage of self-sufficiency
- stage of primitive communism
- stage of simple barter
- stage of the local market
- stage of the money market
- stage of early capitalism
- stage of mass production
- stage of internationalism
- stage of information technology
- stage of the affluent society
Approaches of study marketing
1. functional Approach
Functional Approach Focuses on different types of functions which are performed in marketing. Marketing is the function of buying, selling, distributing, transporting, warehousing, etc.
2. Commodity / Product Approach
In the commodity approach, the major focus has been made on the product or the marketing of the commodity. This is the study of commodity flow from the original producer to the final consumer.
3. Instutional Apporach
The institutional Approach directly targets intermediate institutions like agencies, import, and export, wholesalers, retailers, warehousing, etc. to engage themselves in marketing during the movement of goods and services.
4. Economic Approach
The economic Approach deals with the problems of demand, supply, cost, price, competition, etc. This gives a fair idea to the business in order to produce goods in an economically desirable way.
5. Managerial Approach
The managerial approach focuses on activities or marketing functions and checks the decision-making ability of the firms by checking how the managers handle specific situations or problems.
6. System Approach
a system approach is concerned with the interrelations and interconnection in the marketing function. It analyses various internal and external connections of the firm.
7. Environmental Approach
The environmental approach focuses on the nature of the market.Marketers need to have a detailed picture of the market and also need to stay up to date with all its desires and make decisions based on legal requirements.
8. legalistic Approach
The legalistic approach considers the legal aspect of marketing only and aims to market the product based on legal requirements.
9. Societal Approach
The societal Approach is a very new approach in the marketing process. The society meets its own consumption needs. Here, the business concentrates on how the business meets the consumer's needs, and the marketing decision is made based on the impact of social welfare.
Picture Showing Different People Seeing Product On Their Point Of View
Table Of Content
- पाठ १। सहिद हरु को सम्झना मा। Class 8 Nepali exercise
- पाठ २। साकार सपना। Class 8 Nepali exercise
- Table of Content Nepali Class 8
- Exam Preparation Resources: Your Ultimate Guide to Success
- पाठ ५। मानव अधिकार। Class 8 Nepali exercise
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Exercise
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status/position of the customer in marketing
customer is considered as the corn store of marketing. without a customer, there is no product hence, no marketing. the existence of marketing is to help companies understand, create, reach, and deliver value to esteemed customers.
Importance of Marketing
Importance of Marketing to the Customer
The importance of Marketing to the customer is listed as follows:
a. Provide information
b. Provide satisfaction
c. Selection facility
d. Rise in living standards
e. Quality products
Importance of marketing to the firm
The importance of marketing to the firm is stated as follows:
a. Business planning and decision making
b. Product distribution
c. Income generation
d. Communication between firma and society
Importance of marketing to the society and nation
The importance of marketing to the society is stated as follows:
a. Creation of utility
b. Employment opportunities
c. Resources utilization
d. Rise in the living standard
e. Economic importance
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