As the science and technology is fast advancing, marketing is becoming more attractive at the company, state, national and international levels. In the early days, there was no difference between ‘selling’ and ‘marketing’. But today, the difference between these two terms has been clearly made. Many organizations have involved in 2developing marketing activities to satisfy the needs and wants of a group of customers. This ‘segment’ concept has helped in the development of new products and services and also specialization in selling is being attained. With the development of new markets and new avenues of selling. A wide variety of consumer and producer goods has been profession. The developing nations are giving much importance for marketing to develop their internal and external markets. Even the socialist countries have started studying the marketing concept in a scientific ways to introduce them actively in their internal distribution system.
Marketing is quite an old profession. But still, by assuming new dimensions, it looks new and it is attracting many people to this profession. This is a paradox with the introduction of ‘Barter Exchange’ market activity started functioning. But the marketing has seen the light of the day only in the early part of the 20th century. Although economics, the mother science of marketing, contained all the processes of market, it did not expose the ideas properly. Because of this, marketing developed as a new area of study and practice in the 20th century. It has passed through many phases and is aiming to attain new heights. The goods and services considered to be the preserve of rich at one time, have reached the common man today due to unstinted efforts of the marketing activity. Electric Fan, T.V. Tape Recorder, Calculators, Personal Computers, etc., have become a necessity in majority of the households. Majority of the kitchens in Indian households are filled with many new appliances. The task of the kitchen work is made easy and convenient. All these have been possible because of the development of marketing management.
The role of organizations in developing the marketing activity be ignored. Several institutions are involved in discharging marketing functions. They may be small or big, good or bad, but they are on their toes to satisfy the human wants. 20th century has been the age of organizations. Man has attached to these organizations so much that he cannot live without them. Organizations – profit or non=profit, government or private – are in different forms and sizes. Business organizations are in the form of Sole Trading Concerns, Partnership Firms and Joint Stock Companies. Joint stock undertakings have also gained momentum in these days. All these forms of organizations at national international levels are engaged in selling their products through a network of branches. Thus, the organizations are formed to satisfy the wants of consumers. The organizer is the key person in the organization process. The successful organizer knows the techniques of co-ordination and also the art of selling product in the target market. If he cannot access the potency of his rival in the market, he fails to catch up the market.
The consumer is the king in the market. Consumer tries to satisfy his wants from different market sources. His taste, fashion and preferences also change from time to time. Hence, the marketer should learn the art of reading the minds of the consumers and act accordingly.
The marketing organizations may develop fast in the initial stages and have a gradual decline after some time or they may have steady growth or develop steadily in the initial stages and grow fast in later stages. There are reasons that can be attributed are ⇨ The fast changing mind of the consumer.
⇨ The keen competition from rivals.
The well-established producers and...