SEEKING MATCHING PROGRAMMING.

SEEKING.
In this function the aim of seeking is to discover the customer and customer needs. The marketing oppurtunity is revealed through an analysis of this environment.
MATCING
Under this matching process customer demand has to be matched with organisational resources and environmental limitations such as competition government regulation general economic conditions and so on.
PROGRAMMING.
Amarketing programme which is known as marketing mix covers product price
Promotion and distribution strategies. They are formulated and implemented to accomplish the twin objectives of the customer satisfaction and profitability.
  In the customer oriented marketing approach and the concept of stategy we may evolve a precise definition of marketing.
Marketing is a system of integrated business activities designed to develop strategies and plans to the satisfaction of the customer want of selected market segments or targets.
B . OBJECTIVES OF MARKETING.
1. FOR developing an intelligent appreciation of modern marketing practice.
2. For providing guiding policies regarding marketing procedures and their implementations.
3. For studying marketing problems according to circumstances and to suggest solutions.
4. For analysing the shortcomings in the existing pattern of marketing.
5. For enabling successful distribution of agricultural products mineral wealth and manufactured goods.  And
6. For enabling managers to assess and decide a particular course of action marketing has become important to the society.

The social market concept. Contd

The definition has the following implications.
T
he whole system plan starts with the product idea and does not end until the customers wants are completely satisfied which may be some time after the sale is made.

2. The definition implies to be successful. Marketing must maximise profitable sales in the long run. This customers must be satisfied In  order for a company to get repeat business that ordinarily is so vital to success.
The American marketing association defines marketing as the performance of business activities that direct the flow of goods and services from the producer to the consumer or user. The definition only emphasizes distributive aspects of the market and fails to stress managerial  aspect of marketing. Marketing under managerial  thinking should also stress cost and price consideration,demand satisfaction or selling and demand creation or sales promotion and advertising and marketing research to match the supply with the customer demand.Marketing must include ascertaining,creating and satisfying the customer wants and doing it at a profit.
      Marketing is "The set of human activities directed at facilitating and consummating exchanges. The essence of marketing is exchange of products and the transaction is to satisfy human needs and wants. All business activities helping and promoting the exchange function are included in marketing".
Marketing is the ongoing or continuous process of defining anticipating and creating customer needs and wants and
of organising all the resources of the enterprise to satisfy the customer demand at the desirable profit to the firm and also to the customer. Marketing is a system of integrated business activities designed to develop marketing plans and programmers leading to the satisfaction of customer wants.
Marketing includes Seeking/Matching/Programming........

THE SOCIAL MARKETING CONCEPT

According to this philosophy the company should determine the needs,wants and interests of target markets. The company has to provide the desires satisfaction more effectively and efficiently than the competitors in a way that maintains or improves and the   consumers  and the society's well being. The social marketing concept is of recent origin among the five marketing management philosophies.

This concept questions whether the pure marketing conceptis a adequate in this context of environmental problems,resources shortages rapid population growth,world wide inflation and neglected social services. The social marketing concept holds that the pure marketing concept does not consider the possible conflicts between short run consumer welfare.

Certain consumer and environmental groups have voiced concerns that coke has little nutritional value which can harm people's teeth(contains caffeine)and adds to the litter problem with disposable bottles and cans.

The social marketing concept insists marketers to balance three cinsiderations while formulating their marketing state gies
1. Company profits.
2. Company wants.
3. Society's interest.
Generally most of the companies used to take their marketing decisions largely on short run company profit. Later on they have recognised the long run importance of satisfying consumer wants and the marketing concept emerged. Now many companies are beginning to think of society's interests when making their marketing decisions.
One such company is Johnson&Johnson
rated in a Fortune Magazine poll as Americas most admired company for the community and for the environmental responsibility. J&J's concern for the social ingests is summarised in a company document called the"CREDO".Johnson&Johnson would rather take high loss than ship a bad batchof one of its products and the company spurts many community and employee programme that benefits is consumers,workers and the environment.

Marketing is an activity that is not restricted to business.
MARKETING CONSISTS OF ALL ACTIVITIES DESIGNED TO GENERATE AND FACILITATE ANY EXCHANGE INTENDED TO SATISFY HUMAN NEEDS AND WANTS.
A Micro definition of marketing applicable in a business or non business organisations as follows.
MARKETING IS. ...A system of business
                               activities.
                               Designed to plan price
                    Promote and distribute.

Something of value want satisfying products services and ideas.
For the benefit of the target present and potential household consumers or industrial users. To achieve the organisations objectives.
Contd.......

THE SELLING CONCEPT

The philosophy is very seriously followed by many organisations. According to this concept the people may not like to buy enough of the organisation's product,unless it undertakes a large selling market and promotion effort. This is application to unsought good to those which buyers do not normally think of buying. These industries must be good at tracking down prospects and selling them on product benefits. This is also practised in the non profit area. A political party for example., will vigorously sell the candidate to the voters  as a fantastic
Person for the job. While doing so the candidate's mistakes are hidden from the public because the aim is to get the sale not worry about the consumers satisfaction afterwards.

THE MARKETING CONCEPT
This is very important philosophy that holds the key of achieving organisational goals depends on determining the needs and wants to the target markets and delivering the desired satisfactions more effectively these Competitors. This is a relatively recent business philosophy. This concept had been stayed in such colourful ways as "TO FLY, TO SERVE"(BRITISH AIRWAYS); and"WE ARE NOT SATISFIED UNTIL YOU ARE"(GEC)
"TO DO ALLIN OUR POWER TO PACK THE CUSTOMER'S DOLLAR FULL OF VALUE
QUALITY AND SATISFACTION."
.The Selling concept and the marketing concept are always misunderstood. .
THE SELLING CONCEPT.
Starting point   factory
Focus.               Products.
Means.           Selling and promoting
Ends                profits through sales
                         Volume.
THE MARKETING CONCEPT.
Starting point    Market
Focus                  consumer needs.
Means             coordinated marketing
Ends                 profits through customer
                          Satisfaction.
From the above table it is evident that the selling concept takes an inside out  perspective. It starts with the factory which focuses on the company's existing products and calls for heavy selling and promotion to obtain profitable sales. On the Other hand the marketing concept
takes an outside in perspective. It involvesa well defined market concentrates on customer needs,coordinates all the marketing activities affecting customers and makes profit by creating customer satisfaction.
    Under the marketing concept companies produce what consumers want thereby satisfying consumers and making profits.

A CONCRETE CONCEPT

Marketing management refers to carrying out tasksto achieve desired exchanges with target markets. There are five alternative concepts under which every organisation conducts their own marketing activities. The production,
product,selling , marketing and social marketing concepts.

THE PRODUCTION CONCEPT

According to this concept the consumers prefer to use the products that are available and highly affordable and that management should concentrate on improving production and distribution efficiency. This concept is one of the philosophies that guide sellers.

This is useful philosophy on two situations.

1. When the demand for a product exceeds the supply the management has to find out the ways and means to increase the production.

2. When the products cost is to high and improved productivity is needed to bring it down.
For example.  To perfect the production of a particular model,so that its cost could be reduced and more people could afford it.
Some companies follows the philosophy of increased production and lower costs in order to bring down prices. They enjoyed a major share of the market with this philosophy. On the other hand when the same strategy is used in by some by bringing down the price customers did not find to their taste. Eg HMT watches were very popular for so many decades,people have chosen TTITAN watches for its elegance and attraction.

THE PRODUCT CONCEPT.
This is a other philosophy that guides The seller. According to this product the consumers used to prefer products that offer the most quality performance and features and that an organisation should thus devote energy to making continuous product improvements. Some manufacturers believe that,if they can build a better mousetrap the world will beat a path to their door.
Generally people will look for a better solution to a mouse problem,but not necessarily for a better mouse trap. The solution may also involve a chemical spray as an exterminating service or something that works better than a mouse trap. More over a better mouse trap will not sell unless the manufacturer designs packages prices it attractively,placing it in very convenient distribution channels. and brings it to the attention of people who need it and convinces them it is a better product.

MARKETING MANAGEMENT

Marketing touches everyone's life. It is the means by which a Standard of living is developed and delivered to people. Many people confuse marketing with selling, but infact marketing occurs both before and after the selling event. Marketing actually combines many activities. . Marketing research, product development, distribution, pricing, advertising, personal selling and others designed to sense,serve and satisfy consumer needs while meeting the organisation's goals.

Marketing human activity directed at satisfying needs and wants through exchange processes. The core concepts of marketing are needs'wants ,demands, products , exchange transactions and markets.

Marketing management is the analysis, planning, implementation, and control of programmes designed to create,build and maintain beneficial ex changes with target markets in order to achieve organizational objectives. Marketers must be good at managing the level,timing,and composition of demand, because actual demand can be different from what the organisation wants.

Marketing management can be guided by five different philosophers.  The production concept holds that consumers favour products that arm available at low cost and that management's talk is to improve production  efficiency and bring down prices. The product concept holds that consumers favour quality products ,and that little promotional  effort is thus required. The Selling concept holds the consumers will not buy enough of the company's products unless they are stimulated through heavy selling and promotion. The marketing concept holds that a comp by should research the needs and wants of a well defined target market and deliver the desired satisfactions. The societal marketing concept holds that the company should generate customer satisfaction and long run societal well being as the key to
achieving both its goals and it's responsibilities.

Marketing practices have a major impact on people in our society. Different goals have proposed for a marketing system such as maximizing consumption consumer satisfaction ,consumer choice or quality of life. Interest in marketing is growing add more organisations in the business non profit and international sectors recognise the way in which marketing can improve performance.

A CONCRETE CONCEPT.

OBJECTIVES OF MARKETING

The objectives of marketing management are derived from the overall objectives of business such as profits,growth service to society etc; marketing helps to achieve these objectives by developing and distributing goods and services to satisfy the needs and the requirements of the customer on one side and give profits to the business enterprise on the other. .
       The basic objectives of marketing management are as follows.
CREATION OF DEMAND.
A business enterprise can sell products or service only when there is a demand.,which is created through marketing. Marketing tries to create demand through various means,eg. Advertising, personal selling, sales promotion  etc: For the purpose the enterprise Firstly finds out what customers want and then produce and distribute that particular product at a reasonable cost. Thus marketing helps in creating demand utility for the product.

PROFITABILITY THROUGH CUSTOMER
SATISFACTION.
Marketing seeks to achieve long terms goals of profitability and growth by satisfying the needs of the customer. The basic aim of business is to satisfy the needs of the customer. The basic all of business is to satisfy the needs and requirements of different types of customers,which can only be fulfilled through marketing. If the needs and requirements of the customers are not fulfilled the business will fail to earn expected profit and survive.

MARKET SHARE.
Marketing helps an enterprise to create a strong position for itself in the market.
aggressive selling efforts are made to survive to a competitive world. Therefore every business firm uses promotional methods to make its products and services famous in the market.

GOOD WILL
The foremost aim of a business enterprise is to eat profits and to develop and maintain goodwill in the market. A name or goodwill of a business enterprise can be attained through marketing only by selling quality products at a reasonable prices.

STANDARD OF LIVING.
Marketing management aims at improving the living standards of people by
1. Providing a wide variety of goods and services.
2. Supplying new and better quality products and
3. Creating more employment opportunities.

FACTORS TO BE CONSIDERED IN BUYING

1. Product quality
The quality of material to be bought attracts greater importance. Because a manufacturer needs quality materials for maintaining the quality of his final product. Even middleman prefers only quality goods as he has to satisfy his customers.
2. Product quantity.
The quantities to be purchased basically depends upon the quantity of production or quantity of sales. However there should not be or under stocking. The quantity needed for consumption is easily ascertainable when it is ultimate consumption or for further processing. But buying for resale is complicated as the quantity to be bought depends,on the demand from the consumers.
3. Timing
The buyer must take a decision as
when to buy.
4.Price.
The aspects such add the terms,quality,credit facilities and discounts are to be considered carefully before the buying decision is made.
5. Source of supply.
The price is a delicate and complex factor in making a decision to buy. A buyer has to consider various sources of supply and decide a particular source from where to buy.

MARKET INFORMATION AND RESEARCH.

Market information and market research are very essential in marketing. Today's marketing requires lot of correct information adequately and promptly. Market information becomes the basis of many decisions of marketing. A trader had to face several problems and he can solve them only by careful interpretation of available data.
Market information enables a Seller know
When to sell and what price to sell,who are the competitors etc.,Marketing research has now become an independent branch of marketing.
BUYING MOTIVES
BBuying is a satisfying activity. Buying involves careful planning and requires
A setting up of policies and procedures. Before a particular product is brought it is necessary to ask the following questions. What to buy?
When and how much to buy?
From where and how to buy?
On what terms and conditions and prices?
Buying motive
Answer for these questions are termed as"Buying Decisions.
The following are considered to be the purpose for seeing up buying objectives.
To avoid delay in production schedules.
To avoid waste of materials
To maintain standard of quality.

FACILITATING FUNCTION

a)Financing
It is not easy to perform various marketing functions without the availability of adequate and cheap finance. It has been rightly remarked that "Money or credit is the lubricant"that facilitates the operation of the marketing machine as modern marketing requires vast resources.
Marketer requires finance such as short term finance. Medium term finance,Long term finance etc.,There are various sources of marketing finance too.For e.g
Commercial banks, cooperative credit societies, government agencies etc;Today business depends on trade credit. It facilitates increase in the volume of Sale,enhancement of credit worthiness good will of the consumers and we en spread of sales throughout the month or even a yesx
b)RISK TAKING
MARKETING'S RISKS ARE MANY. These risks are inherent in most of the marketing transactions. They occur due to unforeseen events which take place from time to time Risks may be due to social hazards such as theft,burglary,bad debts,wars etc; Or they may arise dieing the course of transportation. They may also be due to decay deterioation and accidents or due to fluctuations in the process caused by changes in their supply and demand. The carrots risks are termed as place risk,time risk,and physical risk etc,;

C)STANDARDIZATION.
STANDARDIZATION ensures quality in the product. Consumers prefer to have certain predetermined standards for the products. This will relieve buyers from examining the product and wasting time.
STANDARDIZATION has now be accepted
as an ethical basis of marketing
.Some of the most vital marketing problems center round the activities of establishing and  Ma

STORAGE AND WAREHOUSING

Storage is a process of preserving goods for future demands. Warehouses provide storage facilities. Storage is necessaryin the following cases. When production is storage but consumption is perennial and also when production is Continuous but consump tion is seasonal.
Storage involves holding and preserving of goods between the time of their production and the time of their use. It causes steady flow of commodities to markets throughout the year. Storage creates time utility by serving or supplying the goods in time.
The storage is done through the establishment of Waterhouses. Waterhouses also help in having a central place for keeping goods from where the distribution could be made easily and according to needs. Storage can be regarded as a function of equalization
Ultimately it tends to adjust the  supply to demand so add to equalise them on the interest of the manufacturers,middlemen and consumers. Moreovet it creates time and place utilities.
FACILITSTING FUNCTIONS.......

Functions of marketing (continued)

b)Selling.
It means transfer of the title of goods to the buyers. Selling is an important activity of the seller,the consumer and the general public. Efficency on selling is the most important factor that affects the existence of a firm. The prime objective of a business concern is successfully carried out through the sale of goods.
2 PHYSICAL SUPPLY FUNCTION
a)Transportstion
Marketing depends upon effective transportation system. It is the function of transportation to Convey commodities from where their utility is relatively low to places where it is higher. Goods are to be removed from the point of production to the point of consumption. This is done by transport. Concentration of natural resources at certain centres males it necessary for the industries to concentrate there. Transportation enhances the value of goods by the creation of place utility. Even in The case of simplest marketing mechanism or a factory Transportstion where the consumer bus directly from the local die or a factory transportation is involved and must be performed either by the buyers or the seller.
The development of various Kinds of  transportation had been responsible for the opening up of new markets. Together with the development of marketing area,
It assists in the sale of goods in domestic as well as foreign markets. Today transport is capable of creating time utilities also with the increase .in the speed of various modes of tranport a tion.

FUNCTIONS OF MARKETING ...contd.

Functions of exchange: selling(Demand creation)and assembling(buying)
Functions of physical supply; Transportation and storage and warehousing.
Facilitating functions
Market information/Standardization(collection and interpretstion)Risk taking/and financing.

Generally this classification has been widely accepted. As most of the essential functions are included in it is capable of giving an overall picture of the whole area of marketing.
1 EXCHANGE FUNCTIONS.
Goods are produced for satisfying human wants. This is achieved only when goods finally reach the hands of the consumers. The process of paying goods into the consumers hands is called functions of exchange.
a)Buying and assemling
Buying is first in the process of marketing. A manufacturer is required to buy raw materials for production purposes it is known as concentration. Similarly a wholesaler has to buy goods to sell them to a retailer.
Assembling process stays after the goods have been purchased. It is a function of mobilising goods. Buying involves transfer of ownership of the goods, whereas assembling involves creating and maintaining of stock of goods purchased from different sources.
Generally goods are not purchased from one seller only. When they are purchased from different sellers they have to be collected and assembled at one place under the control of the buyer. Thus buying and assembling are two distinct processes. .
SELLING......

FUNCTIONS OF MARKETING. .A PROCESS

P The business activities(buying,selling,storage,financing)are the functions of marketing and they must be performed in order for the marketing process to be consummated. Thus the functional approach to the study of marketing splits up the whole marketing process in a nunnery of distinct activities. Each activity has a relevance in the process of marketing. Marketing function is defined as"An act or operation or service by which original product and the final consumer are linked together.
There are some widely accepted models of classification of marketing functions. Many are of the view that most important function of marketing is found in the activities relating to the changing of the title. Some others are of the opinion that buying and selling functions are grouped under the head exchange functions are vital. A few others have described the buying and selling functions as concentrating and dispersing respectively. .
MARKETING PROCESS.
CONCENTRATE FUNCTIONS.
1.Buying or Assebling.
2.Transporting
3.storing
4.Grading.
5.Financing.
6.Risk bearing
DISPERSING FUNCTIONS
1Selling
2.Transporting
3. Sorting
4. Grading
5. Financing
6.Risk bearing
7. Dividing.
It is evident from the above that the whole process of marketing is brought under two major heads. But it is respective in nature add the same set of functions is included (eg.Transporting and storing)under both the main divisions. The argument is that on one side All these functions help to assemble and on the other side to disperse the product.
A Other classification of marketing functions is based on the opinion that the marketing proceed is primarily concerned with the flow of goods from the producer to the consumer. To facilitate the flow there some independent functions are to be performed.
MARKETING PROCESS. ..CONCENTRATION/EQUALIZATION/DISPERSION.
CONCENTRATION.
1.BUYING
2.ASSEMBLING
3.TRANSPORTING
4.FINANCING
5.RISK BEARING
6.STIRAGE.
EQUALIZATION
1.STORAGE
2.GRADING
3.TRANSPORTING
DISPERSION
1.SELLING
2.TRANSPORTING
3.GRADING
4.FINANCING
5.RISK BEARING.
This classification contains an additional function in between concentration and dispersion. Equalization means adjustment of supply to demand on the basis of time quantity and quality. The object of this function is to adjust supply to demand thereby creating an equilibrium. The defects pointed out in a former classification exist here also.

FUNCTIONS OF MARKETING. E.P.F.

COMMODITY MARKET

Generally in this market different kinds of commodities are sold commodirty market is further divided into
a)Produce exchange. In such markets only certain commodities ate sold and bought. Produce exchange are set up buyers and sellers of a particular commodity. They are also known as"Commodity exchange".These markets are regulated and controlled by certain rules.
b)Manufactured goods market. Here manufactured goods like silver sold.
c) Bullion market: in this market valuable metals like gold are sold.
B. CAPITAL MARKET
This Market can be divided into three types.
MONEY MARKET In this market money is lent a d borrowed.This market is termed as money market or capital market on the basis of the period for which money is borrowed. Short term borrowing is undertaken in money market and long term borrowing in capital market.
FOREIGN EXCHANGE MARKET.
Here currencies of different countries are purchased and sold. This market is essential in international trade. It arrange foreign currency for importers to enable them to buy and for exporters in converting foreign currency into local currency
STOCK MARKET or SECURITY MARKET.
It is popularly known as stock exchange. The market cause into being along with the organisation of joint stock companies. The shares of companies and similar types of instruments are dealt in this market.
FORMALISED MARKET.
a)Regulated market; These markets are controlled by Statutory measures. Produce exchanges,Stock exchanges are example of this.
b)UNREGULATED OR FREE MARKETS.
These markets are uncontrolled. They are left and mostly operate a cording to demand and supply on the basis of the nature of delivery of goods.
c)SPOT MARKET.
It is part of organised market such as commodity exchange. Here physical delivery of goods takes place immediately.
d)FUTURE MARKET.
It is just opposite to spot market no physical delivery of goods takes place and only future contracts are made.
The critical importance of the customers and their behaviour rapid changes in consumer demands,however left the manufacturing organisation in turmoil.
These factors have forced the products to accept"Consumer orientation"as the marketing Philosophy for their firms if they ever wanted the bargaining power. This is exactly the most distinguishing feature of modern marketing. To day all organisations a error that the marketing activities must pay far ahead of production. It is not enough if the activities are begun after the product is ready. The company appreciates and understands the consumer's strategic position as a determination of the firm's survival and growth. Thus marketing through its studies and resesrch will determine for the engineer.,designer and the manufacturing man,the customer wants to know at what price he is willing to pay and where and when it will be wanted.Marketing would have  authority over product innovation and planning production.scheduling as well as over the sales distributors and servicing of the product. 
FUNCTIONS OF MARKETING.PROCESS....

CLASSIFICATION OF MARKETS

YGenerally markets are clarified under the following  categories.
1 . GEOGRAPHICAL MARKETS.
a)Family market; These markets existed during"village economy" and not now.
b)Local market; They exist in"Town economy".They are gradually disappearing due to innovations and developments in transport and communications. They however still exist in villages but are too few in numbers.
c)National market;The scope of industrialisation has widened markets on the national level. Most of the products today have acquired national markets.
d) World Market or International market.These markets are developed due to the growth of international transport and communications.
2.BUSINESS CLASSIFICATION.
a)Whole sale market; In this market wholesaler is the supplier and retailers are the buyers. Here goods are brought and sold in bulk quantities.
b) Retail market. ; Retailer in the last link in the chain of distribution. Detailer deals with consumers and hence sometimes to as the consumers Market. Here goods are sold in small quantities generally to the ultimate cons semi manufacturedumers.
3. ON THE BASIS OF IMPORTANCE.
a)Primary Market;   Generally in this market agricultural products are sold.
b) Secondary market. In this market semi manufactured or partly manufactured goods are sold.
4. GOODS WISE CLASSIFICATION
A) COMMODITY MARK GENERAL

MARKETS CLASSIFICATION (contd)

Marketers however see the sellers as constituting the industry and the buyers as constituting the market. The relationship between the industry and the market is shown below. The sellers and buyers are connected by four flows. The seller's send goods or services and communication to the market in return they receive money and information. The inner loop shows an exchange of money for goods the outer loop shows an exchange of information.
COMMUNICATION
INDUSTEY. ..A collection of sellers/goods services/money
MARKET
A collection of buyers.goods services/money.
INFORMATION
Business people use the term markets to conver various groups of customers. They examine about need markets( such as the diet seeking market). Product markets(such as the youth market) demographic markets (such as the youth market)and geographic markets(such ast the French markets)or they extend the concept to cover non customer groupings as well as voter markets labour markets and donor markets.

FUNCTIONS OF MARKETING

The features of marketing management are:-
CUSTOMER SATISFACTION
The focus of marketing management is to satisfy the customer. It is by satisfying that a business earns profit.
INTEGRATED FUNCTION
Marketing management integrates the other functional areas of business such as production,finance and personnel to achieve the objective of the organisation.
SPECIALISED FUNCTION
Marketing management is an operative function that requires special knowledge and skills about markets,consumer behaviour and competition.
SOCIAL FUNCTION
Marketing management has a significant impact on society. It influences the consumption pattern,life styles and living standards of public.
UNIVERSAL FUNCTION
It is necessary in all types of business organisation,manufacturing trading and service enterprises.
MARKETS CLASSIFICATION.
A market consists of all the potential customers sharing a particular need or want who might be willing and able to engage to satisfy that need of want. Thus the size of the market depends on the Nymet of persons who exhibit the need,have resources and are willing and able to engage to softy that need or want.
Originally the term market means the place where buyers and sellers gathered to exchange their goods such as village Square. Economists use the term market to refer to a Collection of buyers and sellers who transact over a particular product or a product class hence the housing market the grain market and so on.
Marketers howevet see the sellers as

MEANING OF MARKETING MANAGEMENT

Marketing management is concerned worth planning,organising ,directing and controlling to satisfy the needs of requirements of the customer. According to Philip Kotler,Marketing  management is the analysis,planning,implementation and control of programmes designed to create build and maintain  materially beneficial exchanges of relationships with target markets for the purpose of achieving organisational objectives.

DEFINITION
Some important definition of marketing are.
H.L.HANSEN
"Marketing is the process of discovering and translating consumer needs into products and services and then in turn making it possible for more and more people to enjoy more and more of these products and services.
WILLIAM STANTON
Marketing is a total system of interesting business activities designed to plan. Price,promote and distribute wants satisfying products and services to target customers to achieve organisational objectives
CANDIFF AND STILL
Marketing management concerned with the direction of purposeful activities towards the attainment of marketing goals. It is the business process by which products are matched with the markets and through which transfer of ownership are effected .
FUNCTIONS OF MARKETING.

NATURE AND FUNCTIONS OF MARKETING

Just like financial management,marketing management is an important functional area of a business. Marketing enables a business enterprise to sell is goods to consumers. It provides the place where the potential buyers and sellers of a product assembled to make the transactions of buying a be selling goods for money. In marketing goods are transported from the place of production to the place of consumption,thereby creating place utility. Goods once manufactured are stored until use there by,creates time utility. Sales and transfer of goods creates possession utilities. It also helps in improving the standard of living by providing a wide variety of goods and services to the people.
The term 'Marketing Management'is different from "business management"
A market means a place where buyers and sellers gather to exchange money with the goods. But the business management is n maker means the actual and potential buyers and sellers of a product. It consists of a group of buyers and sellers who are interested in exchanging goods and services for money. For example if there is one person
At least to buy a painting of an artist. It is termed as market.
MEANING OF MARKETING MANAGEMENT.