Marketing

Class 12 Business Studies

, Marketing
Management  Marketing management
refers to management of all
the activities related to
market.
 All the definitions of
marketing are based on the
philosophy that, “satisfaction
of consumers is the basic
purpose of business”.

,Marketing
 Marketing is a social process by
which individuals and groups
obtain what they need and want
through creating, offering and
freely exchanging products and
services of value with others.
 Marketers focus on the needs and
wants of customers and try to
develop products or services which
would satisfy them.

, Features of Marketing
Needs and Wants
 The focus of the marketing process is on the satisfaction of
the needs and wants of individuals and organizations.
 A marketer‟s job in an organization is to identify the needs of the target
customers and develop products and services that satisfy such needs.


Customer Value
 Buyers will purchase a product only if it is perceived to be
giving the greatest benefit or value for the money.
 The purpose of marketing is to generate customer value at a profit.
 Marketers must add to the value of the product so that customers prefer
your product over the competitor.