Thursday, February 18, 2010

Characteristics of Marketing

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Characteristics of MarketingMarketing is a combination of business activities lunched to plan, price, promote and distribute want satisfying things to specific markets to secure organizational objectives. Some features of marketing can be shown as follows:

a) Marketing is a societal process: Process is way to do something in systematic method. Marketing also manages marketing activities. Such activities are of value to the customers and also performed in societal process.
b) Marketing consists of activities: Resource and time is consumed by activities. An activity can be performed by individual, group or organization. Marketing activities facilitates exchange relationship. In marketing different activities are done like; product related activities, price-related activities, place related activities, promotion-related activities etc.
c) Marketing satisfy customer needs: Human needs are closely related to marketing. Needs are basic human requirement. Product gives the value to satisfy the customer’s needs. Wants are specific satisfiers of needs. Products satisfy wants. For a hungry animal, food is a need but grass is a want. Customer’s satisfaction is the focus of marketing. It works for customer satisfaction. So that, marketing satisfies the customers needs.
d) Marketing Facilitates Exchange Relationships: Exchange is a value creation process. It is the act of obtaining a desired product from someone by offering something of value in return. In this way marketing facilitates exchange relationship between buyers and sellers.
e) Marketing helps achieve objectives: Objectives are last results to be achieved. And marketing helps to achieve the organizational objectives which can be profit, service, growth, survival and leadership related objectives.
f) Marketing occurs in a dynamic environment: Marketing is environment specific which occurs in dynamic environment. The changing environment provides opportunities and threats to marketing. Such forces can be political- legal economic, socio-cultural and technological. So that marketing should go ahead through different changing environment.

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1 comment:

  1. So nice post! Marketing is something very valuable to every business and the trending approaches will definitely help you boost the sales. I am using seo along with few smm platforms and Google Adwords Management method. Very satisfied with the results.

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