INTRODUCTION OF MARKETING

Marketing is indeed an ancient art. It has been practiced in one from or the other since the
days of Adam and Eve. Its emergence as a management discipline, however, is of relatively
recent origin and within this relatively short period, it as gained a great deal of importance and
stature. Marketing gives customers a choice among products. If these products satisfy customers,
this can lead to fuller employment, higher incomes, and higher standard of living. Marketing has
been gaining importance in all organizations in recent years especially with the advent of
globalizations of economic activities.

MEANING OF MARKETING:
Marketing is a comprehensive term. Marketing includes all resources and a set of
activities necessary to direct and facilitate the flow of goods and services from producer to
consumer in the process of distribution.
The term Marketing as been defined in various ways by different marketing
management experts. These definitions can be grouped into two major categories, namely,
classical or old definitions and modern definitions.
DEFINITIONS OF MARKETING:

According to the American marketing association:

Marketing is the performance of business activities that direct the flow of goods
and services from producer to consumer or user

According to Philip Kotler defines:

"Marketing as the set of human activities directed at facilitating and
consummating exchanges, the essence of marketing is exchange of products and
transaction is to satisfy human wants and needs".
Marketing is a social and managerial process by which individuals and groups
obtain what they need and want through creating, offering and exchanging products of
value with others.
This definition of marketing rests on the following core concepts needs wants and
demands; products; value, cost, and satisfaction; exchange, transactions and relation
ships; markets and marketing and marketers. These concepts are illustrated below.

Importance of Marketing:
A high level of marketing activities is a pre-requisite for a high level of economic
activity.
According to Ducker marketing is the distinguishing and the unique functions of business.

Importance of marketing to the nation and society.

Importance of marketing to the firm.

Importance of marketing to the individuals.

Nature and Scope of Marketing:

Marketing is indeed an ancient art. It has been practiced in one from or the other since the
days of Adam and Eve. Its emergence as a management discipline, however, is of relatively
recent origin and within this relatively short period, it as gained a great deal of importance and
stature. Marketing gives customers a choice among products. If these products satisfies
customers, this can lead to fuller employment, higher incomes, and higher standard of living.
Marketing has been gaining importance in all organizations in recent years especially with the
advent of globalizations of economic activities.

Functions of marketing:
Specialized activities are operations which or performance in the marketing of goods and
services are called marketing functions. Marketing function is an act or service by which
original product and the final consumers are linked together. The marketing functions are eyes
and ears of the business.

Marketing Functions
A) Functions of Exchange:

Buying

Selling

Pricing

Advertising

Sales promotion

B) Functions of Physical Supply:

Transportation

Storage

C) Facilitating Functions:

Financing

Risk-raking

Marketing information

Marketing research

Standardization and grading

Packaging

Branding

MARKETING MANAGEMENT:
It is the process of planning and executing the conception, pricing, promotion and
distribution of goods, services and ideas to create exchanges with target groups that
satisfy customer and organizational objectives.
This definition recognizes that marketing management is a process involving
analysis, planning, implementation and control; that it covers goods, services and ideas;
that it rests on the notion of exchange; and that the goal is to produce satisfaction for the
parties involved.
Marketing management can occur in an organization in connection with any of its
market. Consider an automobile manufacturer, the manger of personnel deals in the
labour market, the manger of purchasing, the raw materials market and the manger of
finance, the money market. They must set objectives and develop strategies for achieving
satisfactory results in these markets.
Marketing work in the customer market is formally carried out by Sales Managers,
Sales People, Advertising and Promotion Managers, Marketing Researches, Customer
service Managers, Product and Brand Managers, Market and Industry Mangers and The
Marketing Vice-president.
Each job carries well defined tasks and responsibilities. Marketing manger cope
with these tasks by carrying out marketing research, planning, implementation and
control.