According to a social definition, marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products and services of value freely with others.
Marketing consists of making
Decisions on the four P’s:
• Product
• Place/Distribution
• Promotion
• Pricing
It begins with the customer (by finding their needs) and ends with the customer (by satisfying their needs).
The scope of marketing can be understood in terms of functions that an entrepreneur has to perform.
These include the following:
a. Functions of exchange: which include buying and assembling and selling?
b. Functions of physical supply: include transportation, storage and warehousing
c. Functions of facilitation: Product Planning and Development, Marketing Research, Standardization, Grading, Packaging, Branding, Sales Promotion, Financing
No comments:
Post a Comment