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Marketing Management - Paper

Marketing Management

1.1 INTRODUCTION

The term "market" in its common usage is used to refer the place where actual buying and selling take place. But, for a student of marketing, the term "market" does not mean any particular market place in which things are bought and sold, but the whole of any region in which buyers and sellers are in free interaction with one another that the prices of the same goods tend to be equalized easily and quickly. In its general interpretation it means "any body of persons who are in intimate business relations and carry on extensive transaction in any commodity". Thus the market is the some total of the situation of environment which the resources, activities and attitudes of ...

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It is in this sense that marketing has been defined as "all the activities involved in the creation of place, time and possession utilities". Marketing is thus concerned with "handling and transportation of goods from the point of production

To the point consumption". In this journey of goods from the manufacturer's warehouse of producer's granary or miner's yard to the ultimate consumers, several difficulties have to be removed. Firstly good are to be removed from the place of their origin to the place or places where their need is felt. This is creation of place utility. Secondly, goods are to be made available at a time when they are needed. It means that they must be stored and protected against fire, rain, pests, thieves etc., till that time. This is creation of time utility. Finally, the ownership and ultimately the possession of these goods are to be transferred from the producer or the manufacturer to the ultimate consumer. This has been referred to as the creation of ...

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the changing needs of market place.

8. Marketing is a total system of interacting business activities designed to plan, promote and distribute need-satisfying products and services to existing and potential consumers.

9. Marketing starts with the identification of a specific need on the part of the consumer and ends with the satisfaction of that need. The consumer if found both at the beginning and the end of the marketing process.

10. Marketing originates with the recognition of a need on the part of consumer and terminates with the satisfaction of that need by the delivery of usable products at the right time, at the right place and attain acceptable price.

11. Marketing is ...

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PAPER DETAILS
Added: 7/18/2012 01:24:36 PM
Submitted By: Bhumika
Category: Business
Type: Premium Paper
Words: 3560
Pages: 13

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