definition of marketing
DEFINITION OF MARKETING
MARKETING is a comprehensive term and it includes all resources and set of activities necessary to direct and facilitate the flow of goods and services from the producer to the consumer. Marketing is providing the right goods and services to the right people, at the right place, at the right time and at the right price with the right communication and promotion. It is not just about symbols and brands. It is about how we choose the products and services we want to buy.
The American Marketing Association defines marketing as “the performance of business activities that direct the flow of goods and services from producer to consumer or user.”
The marketing staff of the Ohio State University in 1965, suggested that marketing can be considered “the process in a society by which the demand structure for economic goods and services is anticipated or enlarged and satisfied through the conception, promotion, exchange, and physical distribution of goods and services.”
MARKET
MARKET is one of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services including labor in exchange for money from buyers.
There are two roles in markets, buyers and sellers. A market with single seller and multiple buyers is a monopoly. A market with a single buyer and multiple sellers is a monopsony.
TYPES OF MARKET
I-Financial Markets
Is a market in which people and entities can trade financial securities, commodities, and other fungible items of value at low transaction costs and at prices that reflect supply and demand.
TYPES OF FINANCIAL MARKET
CAPITAL MARKETS
Stock markets
Bond markets
COMMODITY MARKETS-which facilitate the trading of commodities.
MONEY MARKETS-which provide short term debt financing and investment.
DERIVATIVES MARKETS-which provide
MARKETING is a comprehensive term and it includes all resources and set of activities necessary to direct and facilitate the flow of goods and services from the producer to the consumer. Marketing is providing the right goods and services to the right people, at the right place, at the right time and at the right price with the right communication and promotion. It is not just about symbols and brands. It is about how we choose the products and services we want to buy.
The American Marketing Association defines marketing as “the performance of business activities that direct the flow of goods and services from producer to consumer or user.”
The marketing staff of the Ohio State University in 1965, suggested that marketing can be considered “the process in a society by which the demand structure for economic goods and services is anticipated or enlarged and satisfied through the conception, promotion, exchange, and physical distribution of goods and services.”
MARKET
MARKET is one of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services including labor in exchange for money from buyers.
There are two roles in markets, buyers and sellers. A market with single seller and multiple buyers is a monopoly. A market with a single buyer and multiple sellers is a monopsony.
TYPES OF MARKET
I-Financial Markets
Is a market in which people and entities can trade financial securities, commodities, and other fungible items of value at low transaction costs and at prices that reflect supply and demand.
TYPES OF FINANCIAL MARKET
CAPITAL MARKETS
Stock markets
Bond markets
COMMODITY MARKETS-which facilitate the trading of commodities.
MONEY MARKETS-which provide short term debt financing and investment.
DERIVATIVES MARKETS-which provide