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importance of marketing notes

January 16, 2021 by  
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Lecture Notes On Marketing Management. This definition is very simple but cannot cover all the activities of marketing.In this modern age, the meaning and scope of Marketing are not limited only to buying and selling goods. Various Concepts of Marketing . Notes - … There are millions of Internet users that daily access different websites using a variety of tools like computers, laptops, tablet and smart or android phone devices, and the number of internet users are increasing very rapidly. Basis of organization’s Existence: When customers are satisfied from the firm’s goods and services then only success of any business is determined. 2. I came into the scene in the 2nd half of the 20th century. Notes # Meaning of Marketing: Marketing is a wide term embracing all resources and eco­nomic activities needed to direct the flow of goods and services from producers to consumers. Some people make the mistake of confusing marketing with selling. It is done not only at the beginning of the marketing planning process but, also at a series of points during the implementation of plan. It is one of the primary components of business management and commerce. Marketing is very important to consumer. In order to adapt to the changed situation, he needs to innovate new strategies, technology, and processes. E-Marketing Meaning. The year 2016 took the industry by surprise with over 1.5 lakh job opportunities in the Digital Marketing domain. Study notes Marketing Budget. These challenges could be as a result of perceived ineffective marketing strategy which is having negative effect on the organization‟s performance, product quality, customer satisfaction and profitability. Information for Planning and Decision Making: Marketing helps to maintain a suitable marketing information system within the firm, this collects, sorts, analyses and maintains the most valuable and reliable information necessary for suitable planning, organizing, supervising directing and controlling the marketing activities for the betterment of the firm. LOGO MARKETING LECTURE NOTES Dimitris Drosos Lecturer Technological Education Institute of Piraeus Business School Management Information System & New Nowadays, good or services are produced in mass scale. The barter system is an old method of exchange which has been used for centuries and long before money was invented. E-marketing is referred to those strategies and techniques which utilized online ways to reach target customers. Meaning, Evolution and Importance of Marketing. Marketing gives employment to many people and so it helps to reduce the rate of employment. Goods and services are made available to customers through various intermediaries’ viz., wholesalers and retailers etc. It is why the importance of culture has kept growing. Nature, scope and importance of marketing: Marketing is an ancient art and is everywhere. Following the aspects of modern marketing concepts not only is beneficial for consumers but can also be beneficial for the businesses serving them. It is the first and the most important step in the development of any marketing plan. Increasing competition has also bolstered the importance of culture. Adaptation: Marketing enables a firm to adapt to the changing business environment. Sign up and receive the latest tips via email. Process 6. It helps to understand the changing preference of customers thereby leading them towards adaptation as per the necessity. The concept of the market is product oriented as well as it involves the exchange of goods and services for money. Importance of Product Packaging. Marketing Helps in Transfer, Exchange and Movement of Goods: Marketing is very helpful in … The main aim of marketing is to meet the needs of society. Author(s): Central Board of Secondary Education, India. (Approved October 2007) The Chartered Institute of Marketing (CIM) says: The broader concept of marketing is related to the satisfaction of needs and wants of a group of customers. 8 Notes. They just produce what they needed to consume. In the beginning, it was linked with the number of closely associated factors for achieving volume sales. Product planning and development creates from a utility, exchange creates possession utility, transportation creates place utility and research and promotion create information utility of products. With the help of agriculture, hunting and cattle farming they had to fulfill their basic and additional needs and wants. Every business, no matter how big or small, operates within the marketing environment.

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