MARKETING CONCEPT JAIIB PPB

MARKETING CONCEPT
Market
A situation where buyers and sellers of a
commodity interact.
Coming together of buyers and sellers of
the same or similar commodities
TYPES OF MARKET
Geographical Area
Product
Nature of Transaction
Volume of Transaction

MARKETING
Marketing is the process of determining
consumer demand for a product or service,
motivating its sale and distributing it into
ultimate consumption at a profit
A management function
A Business Philosophy

EVOLUTION OF MODERN MARKETING
Industrial revolution
Digital revolution
Barter System
Customer and market driven
Wants of customers
CRM
Customer Satisfaction
Nothing is worthwhile unless it
touches the customer


Selling Vs Marketing




Selling is an operational
activity
Marketing is a total
management
Selling is product
focused
Marketing is customer
focused
Selling is oriented to the
needs of the firms
Marketing is oriented to
the needs of the buyer
Selling encashes
profitable opportunity
marketing coverts
customer needs into such
opportunities
Selling aims at
maximizing sales volume
Marketing aims at
maximizing customer
satisfaction


Selling=
Factory > Products > Selling and
promotion > Profits
Marketing=
Target market > Needs > integrated
marketing > Profit by customer
satisfaction