Introduction
Marketing occupies a very significant place in business and is the nerve
centre of all human activities. Production of goods has no meaning unless
they are exchanged for money or money’s worth. Thus for further
production, goods should be moved from the producer’s to the ultimate
consumers. This movement of goods involves a series of hurdles which can
be solved only through marketing.
Market and Marketing
The term market is derived from the Latin word marcats. It means
merchandise, ware, traffic, trade or a place where actual buying and selling
takes place. It may be defined from the point of view of place, area and
demand. Under place concept, market means some place where buyers and
sellers operate. Generally higher the demand for a product the greater will
be the market.
There are two broad concepts of marketing. They are
a. Product oriented marketing
b. Consumer oriented marketing
In product oriented marketing concept, emphasis is given to the
products.
In consumer oriented marketing concept, the consumers are given
more importance.
According to A.M.A. “Marketing may be defined as the
performance of business activities that direct the flow of goods from
producer to consumer or user”. In this approach, marketing involves
the exchange of products for money and the product is the creation of
thought and imagination of technicians and artists. However, this
approach does not emphasise the role played by the consumers. The
product oriented approach is based on the assumption that the
process of marketing begins after the goods have been produced and
Marketing occupies a very significant place in business and is the nerve
centre of all human activities. Production of goods has no meaning unless
they are exchanged for money or money’s worth. Thus for further
production, goods should be moved from the producer’s to the ultimate
consumers. This movement of goods involves a series of hurdles which can
be solved only through marketing.
Market and Marketing
The term market is derived from the Latin word marcats. It means
merchandise, ware, traffic, trade or a place where actual buying and selling
takes place. It may be defined from the point of view of place, area and
demand. Under place concept, market means some place where buyers and
sellers operate. Generally higher the demand for a product the greater will
be the market.
There are two broad concepts of marketing. They are
a. Product oriented marketing
b. Consumer oriented marketing
In product oriented marketing concept, emphasis is given to the
products.
In consumer oriented marketing concept, the consumers are given
more importance.
According to A.M.A. “Marketing may be defined as the
performance of business activities that direct the flow of goods from
producer to consumer or user”. In this approach, marketing involves
the exchange of products for money and the product is the creation of
thought and imagination of technicians and artists. However, this
approach does not emphasise the role played by the consumers. The
product oriented approach is based on the assumption that the
process of marketing begins after the goods have been produced and
