MARKET, MARKETING & ITS FEATURES

MARKET, MARKETING & ITS FEATURES

1. MARKETING Prepared by RAVNEET KAUR

2. MEANING OF MARKET A place where goods are purchased and sold for example-vegetable market, cloth market, fruit market etc. where actual buyers and sellers meet to effect purchases and sales. But it does not refer to any particular geographical meeting place of buyers and sellers-by mail, telephone or other means of communication .

3. MEANING OF MARKETING A process which carries goods from producer to ultimate consumer . Marketing bridges the gap between consumer and producer . Involve all the activities involved in the creation of place, time and possession utilities’. Concerned with handling and transportation of goods from the point of production to the point of consumption .

4. FEATURES OF MARKETING Customer focus Customer satisfaction Objective-oriented Marketing is both art and science Continuous and regular activity Exchange process Marketing environment Marketing mix Integrated approach Commercial and non-commercial organizations Precedes and follows production

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