Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and

services to create exchanges that satisfy individual and organizational goals

Ten types of entities have been identified which may be marketed in the market such as, goods, services, events, experiences, persons, places, properties, organizations, information, and ideas.

Goods:

Physical goods that may be manufactured, produced in farms or mined. These account for the bulk of the marketing efforts in most of the countries. Services: These are intangible products that involve performing some service for the customers. This may be service performed on the customer, like a haircut, on customer's possessions, like servicing of car, or for the customer, like screening of a movie. Services account the maximum marketing effort after products in most of the countries. In many developed countries the volume of services has exceeded that of goods. Events: Time based shows such as new year celebration, or a sporting event. Experiences: Experiences which results from a combination of products and services. The customer is interested in the total experience such as an organized holiday tour package rather than the individual products and services included in the package. Persons: Like marketing of a celebrity or of a candidate in a public election. Places: Like cities, state, nations, for purposes such as attracting tourists and investment. Properties: This could be physical properties like real estate or intangible rights in properties. Organizations: This basically refers to building positive image of organizations, such as companies, universities, and charitable organizations. Information: Books are the traditional means of selling information, but there are many other type of information marketed. For example market intelligence, economic analysis and mailing lists. Ideas: Every market offering includes a basic idea. In addition ideas may be marketed by themselves. For examples, some religious bodies try to promote their ideas of what constitutes the right behavior.

Importance of Marketing
Paul Majur says that "Marketing is the delivery of standard of living." Marketing has no limitation in a specific area. Now it is very important matter in any country. Marketing provide the desired products to meet the need of the customer. There are many importance of marketing are discussed below: Provide the necessary product: Everyday marketing provides the ideas, goods, services and information's to the customer. For consuming the product is produced from the resources of nature by processing in the industry. Marketing plays a vital sold to provide the product from producer to customer. Formation of economic structure: To form a economic structure in any country marketing is

necessary. In Bangladesh, marketing plays a vital role. The raw materials are produced in village. But the goods are consuming in Dhaka City. So, it is possible only for marketing. Invention of Product: In developed or developing countries, after collecting the resource from the nature and by processing we get new product. So for this marketing is necessary. Facialitating Finance: In Bangladesh the present economic condition is created from the marketing. Goods are produced for consumer, but if marketing can not provide the goods to the customer, them the economic condition will be damaged. Helps to Continue Production: For continuing the production marketing is necessary. Because, marketing provide the product to the customer and also identify the need of the customer. Economical Stability: For economical stability marketing is necessary. Because to stable in economy marketing has to know about supplier, customer and do the desired activities. Marketing provide information about the product to supplier and customer. Provide Employment: There are many middlemen, bank, insurance, company, transportation, warehousing and other activities are created for marketing. As a result many people are engaged in these institution. For employment marketing is necessary. Delivery of standard of living: Without skillful marketing, much production is not possible. Without much production, the unit cost is high and decrease much consumption. As a result, the standard of living is decreased. Marketing provide product at a reasonable price and increase of living. Ensure Perfect Commercial Environment: To ensure perfect commercial environment marketing is necessary. To sell the much product, marketer must have to compete. For this, export selling institution, advertising institution and warehousing are required. From the discussion we can say that above these are the importance of marketing.

HOW BUSINESS AND MARKETING ARE CHANGING A recent book entitled Beyond Disruption praises companies such as Apple, Sony, and TAG Heuer for achieving exponential sales growth despite being established but stagnant, markets. The explanation offered for these success stories was that these companies adopted a clear

vision of the proper direction in which to take their brands and challenged marketing convention through product innovation, advertising, or some other aspect of marketing. Another recent book entitled Radical Marketing spotlights companies such as Harley-Davidson, Virgin Atlantic Airways, and Boston Beer for adopting a different approach to marketing that focuses on stretching limited resources, staying in close contact with customers, and creating more satisfying solutions to customer needs. We can say with some confidence that the marketing isnt what it used to be.? It is radically different as a result of major, sometimes interlinking societal forces that have created new behaviors, new opportunities, and new challenges. Deregulation Many countries have deregulated industries to create greater competition and growth opportunities. In the United States, long-distance telephone companies can now compete in local markets and local phone companies can now offer long distance. Similarly, electrical utilities can now enter local markets. Heightened competition Brand manufacturers are facing intense competition from domestic and foreign brands, which is resulting in rising promotion costs and shrinking profit margins. They are being further buffeted by powerful retailers who command limited

shelf space and are putting out their own store brands in competition with national brands. Customer empowerment Customers increasingly expect higher quality and service and some customization. They are more and more timestarved and want more convenience. They perceive fewer real product differences and show less brand loyalty. They can obtain extensive product information from the Internet and other sources, which permit them to shop more intelligently. They are showing greater sensitivity in their search for value. Privatization Many countries have converted public companies to private ownership and management to increase their efficiency, such as British Airways and British Telecom in the United Kingdom. Customization The company is able to produce individually differentiated goods whether ordered in person, on the phone, or online. By going online, companies essentially enable consumers to design there own goods. The company also has a capacity to interact with each customer personally, to personalize messages, services, and the relationship. Using smart software and new manufacturing equipment, catalog house Lands End put customized chinos up for sale in 2001 and is now expanding its number of customized products.

Because items are cut to order, the company doesnt have to keep as much inventory around. Industry convergence Industries boundaries are blurring at an incredible rate as companies are recognizing the new opportunities lie at the intersection of two or more industries. Pharmaceutical research companies once believed to be chemical companies are now adding formulation of new drugs, new cosmetics, and new foods. Shiseido, the Japanese cosmetics firm, now markets a portfolio of dermatology drugs. Christmas 2003 saw the convergence of the computing and consumer electronics industries as the giants of the computer world such as Dell, Gateway, and Hewlett-Packard released a stream of entertainment devicesfrom MP3 players to plasma TVs and cam corders. The shift to digital technology, in which devices needed to play entertainment content are more and more like PCs, is fueling this massive convergence. Globalization Technological advances in transportation, shipping, and communication have made it easier for companies to market in other countries and easier for consumers to buy products and services from marketers in other countries. Changing technology The digital revolution has created an Information Age. The Industrial Age was characterized by mass production and mass consumption, stores stuffed with inventory, ads

everywhere, and rampant discounting. The Information Age promises to lead to more accurate levels of production, more targeted communications and more relevant pricing. Moreover, much of todays business is carried on over electronic networks: intranet, extranets, and the Internet. Disintermediation The amazing success of early online dot coms such as AOL, Amazon, Yahoo, e-bay, ETRADE, and dozens of others who created disintermediation in the delivery of products and services struck terror in the hearts of many established manufacturers and retailers. In response to disintermediation, many traditional companies engaged in re-intermediation and became brick-and-click,? adding online services to their existing offerings. Many brickand-click competitors became stronger contenders than the pure-click firms, since they had a larger pool of resources to work with and well-established brand names.