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Presentation transcript:

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Market- A Place where buyer & seller meet each other and conduct buying & selling activities. Customer- Refers to people or organisations that seek satisfaction of their needs & wants. Without Customer there cannot be any marketing. Customer must have need, want & demand.

Need- refer to basic necessities of life. Example- food, cloth, shelter etc. Want- what customer desires to have after fulfilling his basic needs. Demand- Want with purchasing power is called demand.

Marketer can be a person or organisation who make available the product or services & offer them to the customer with an intention of satisfying the customer needs & wants. Marketing- means meeting needs profitably or it is about identifying and meeting human & social needs.

Need & want Creating a market offering Customer value Exchange Mechanism

Goods Services Events Persons- for elections persons are marketed Experiences- dinner with sachin. Places Ideas

Marketing & Selling. The two are different concepts. Selling just focus on the needs of seller. Marketing focus on the needs of customer. Main objective of selling is to maximise the profit & sale but in marketing it is earning maximum profit with customer satisfaction.

Production Concept Product Concept Selling Concept Marketing Concept

It describe the combination of four inputs which constitute the core of a companys marketing system. Four main elements of marketing mix given by Mccarthy- Product Price Place Promotion