Marketing is one of the important parts of market management. The root of marketing is market study. you have to try some marketing experiment you gain knowledge about your industry or your target audience behavior. but the marketing industry needs passion and courage.
first, we see
what is market ?
according to Jevons :
"market means any body of persons who are in intimate business relations and carry on the extensive transaction in any commodity "
philip kotler " market is an area of potential exchange "
in the simple words market is the place where tread made in interesting goods and services
then come to the topic of marketing
in the simple words according to me, marketing is a process where manufacturer or trader approach to buying product that he owns
but according to Philip Kotler: " The set of human activities directed as facilitating and consummating exchange, the essence of marketing is the exchange of product the transaction
is to satisfy human needs and wants. All business activities helping and promoting the exchange function are included in marketing "
thank you for your patience
then start what is the importance of marketing
there are two approach
first approach: for business
second approach: for society
then first we will discuss for the business
importance of marketing for the business
various types of business obtain there profits from there marketing in the following ways
To makes profits :
obviously every business does marketing for making profits. but now the company prefers marketing in lead because comparing with past branding and marketing and today's marketing and branding. businessman gives preference to the marketing and branding of the product.
Marketing information :
The modern economy is dynamic in nature. there are tremendous and rapid in likes, dislikes, price, and demand. An entrepreneur has to take decisions according to change environment.but marketing is the way that these likes and dislikes are on way. therefor marketing is the key to people's likes and dislikes of the people. marketing decides the ways of people's likes and dislikes.
ex: marketing team of Maggi that makes the fashion of Maggi in the world of children's and in any passionate people
Source and channel of new ideas :
marketing is an important and complex aspect of the modern dynamic economy. Dynamic changes constantly occur in the field of marketing which is very essential for providing source and channel of new ideas and guiding policies.
some times in real life source also defined by the marketing and new ideas in the form of suggestion
ex: supposed X product create a campaign of marketing for the customer to suggest that improving in companies working style.
Decision making :
producers produce goods and services.he has to take a major decision like what to produce? where to produce ? how much to produce ? all these decisions directly affect the profit. these decisions are major and hence are difficult to take. marketing helps producers to take proper decisions, at right time. hence "success " of business and proper decisions are interdependent, which is possible due to marketing.
marketing is important for making habit of decision making. marketing team released that what difficulty face by it,s customer. the company decision-maker team decides how to solve these problems in fast way.
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