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The nature and scope of marketing.
Pages 10 (2510 words)
Marketing is known to be a socio-economic activity that is significant. The marketing activity is essential in that it satisfies human wants and raises the social welfare. The base of marketing is known to be production.
Marketing is about developing winning offers to each segment of customers. Furthermore, marketing is about managing productive customer relationships by attracting new customers and retaining existing one through offer of quality goods and services as well as satisfying them. They also measure the level of company’s brand image and customer’s satisfaction level. Selling and marketing have to be differentiated clearly. Selling mainly focuses on the sellers needs while marketing focuses on satisfying the buyer’s needs through product and everything that is linked with its creation, delivery and consumption. There are four pillars that support the marketing concept and they include; the target market, the needs of the consumer, integrated marketing and profitability. The marketing concept unlike selling takes a unique perspective. It begins its focus on a market that is well defined, focuses on the various needs of consumers, organizes activities that influence the consumers and makes profits through customer satisfaction. The fundamental marketing concepts include; marketing analysis, customer behavior, marketing instruments and marketing strategies. The nature and scope of marketing Over the past years, the argument on marketing nature and scope has continued to build up. ...
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