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IMPORTANT FEATURES OF MARKETING:



IMPORTANT FEATURES OF MARKETING:

1. Marketing is a business activity. The purpose of any marketing activity   is to earn profits.

2. Marketing is a total systems. Marketing has its own sub-systems which are interrelated and interdependent in nature.

3. Marketing is a managerial activity. It involves planning, organizing, co-ordinations, motivation and control.

4. Marketing activities cover the four Ps-planning of new products, pricing, promotion physical distribution of the products or service.

5. Subject-matter of the marketing includes products and services and ideas.

6. Consumer want-satisfaction is the key-factor in marketing.

7. Marketing involves exchange of goods, services and ideas with the medium of money.

8. The goals of marketing operations are not confined to the present consumers, but it keeps in mind the prospective customer also.

9. Marketing is universal in nature. By and large, marketing operations are applicable to very organisation.

10. Marketing is basically an art. In the highly competitive environment it is really an art to sell the company’s products and services effectively. The methods and operations are supported by cause and effect relationship. Therefore, marketing is a science also.

11. Marketing is creation of utilities. The manufacturers create form-utility by converting raw material into finished goods. Channels of distributions create time utility by the warehousing function. Retailers crate title utility by selling the products to ultimate consumers or users.

12. Marketing is an ongoing or dynamic process involving several interacting and interrelated activities.

13. Marketing is a matching process. It is both consumer-oriented and company-oriented.

14. Marketing is the most important function of management.

15. Marketing is an integrated process which is based on strategies and models.

16. Marketing encompasses all activities of exchange conducted by producers and middleman in commerce for the purpose of satisfying consumer demand.

17. Marketing is the continuous process of defining, anticipating, and crating customer needs and wants and of organizing all the resources of the enterprise to satisfy customer demand at the desirable profits to the firm and also the customer.

18. Marketing is the process of planning and executing the conceptions, pricing, promotion, and distributions of ideas and, goods and services to create exchange that satisfy individual and organisational goals. Marketing must deliver goods and service in exchange of money.

19. Though marketing is an ‘art of selling product (goods, service, ideas, etc.), it's most important part is not selling. Selling is only the tip of the marketing iceberg.

 20. Marketing is so basic that it cannot be considered separate functions. It is really the whole business seen from the point of view of the final result, i.e. from the point of view of the customer.

21. Marketing is a viewpoint, which looks at entire business process as highly integrated effort to discover, create, arouse, and satisfy consumer needs.


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