Question. 1) (a) “Marketing in the performance of business
activities that directs the flow
of goods and services from the
produces to consumers”. Discuss the above statement by
taking two suitable examples of
your choice.
Ans:
Marketing is the performance of business activities that
direct the flow of goods and services from producer to consumer or user."
The above definitions are based on the economic
approach of marketing. Marketing embraces all the business
activities involved in getting goods and services , from the hands of producers
into the hands of final consumers. The business steps through which goods
progress on their way to final consumers is the concern of marketing.
Consumer's Approach of Marketing
According to Star et al. (1977) - "Marketing
is that process through which a business enterprise, institution, or
organisation 1. selects target customers or constituents, 2. assesses
the needs or wants of such target customers, and 3. manages its resources
to satisfy those customer needs or wants."
The above definition is based on the consumer's approach of
marketing. According to this approach marketing consists of four general
activities:-
1. Identifying
and selecting the type of customer, understanding their needs and
desires;
2. Designing
product or services that suits the customers' desires;
3. Persuading
customers to buy at the firm's offerings; and
4. Storing,
moving, and displaying goods after they leave the production site.
Societal Approach of Marketing
According to Mazur (1947) - "Marketing
is the delivery of a standard of living to society."
This definition is based on the societal approach of marketing. According to Cunningham and Cunningham (1981) societal marketing performs three essential functions:-
This definition is based on the societal approach of marketing. According to Cunningham and Cunningham (1981) societal marketing performs three essential functions:-
1.
Knowing and understanding the consumer's
changing needs and wants;
2.
Efficiently and effectively managing the supply
and demand of products and services; and
3.
Efficient provision of distribution and payment
processing systems.
Managerial or Systems Approach
According to Eldridge (1970) - "Marketing
is the combination of activities designed to produce profit through
ascertaining, creating, stimulating, and satisfying the needs and/or wants of a
selected segment of the market."
The above definition is based on the managerial or systems
approach of marketing. According to this approach the emphasis is on how the
individual organisation processes marketing and develops the strategic
dimensions of marketing activities.
A Broader Approach of Marketing
According to Kotler (2000) - "A
societal 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."
According to AMA (2004) - "Marketing
is an organisational function and set of processes for creating, communicating
and delivering value to customers and for managing relationships in a way that
benefits both the organisation and the stakeholder."
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