MARKETING AS A MANAGERIAL FUNCTION
Marketing as a managerial activity involves analyzing the market opportunities, planning the marketing activities ,implementing marketing plans and setting control mechanism, in such a way that organizational objectives are accomplished at the minimum cost. In other words, marketing is: 1. Understanding consumer needs.
2. Environmental scanning and market opportunity analysis.
3. Developmental of competitive marketing plan and strategy such that an organization is able to satisfy not only the consumer needs but also achieve its objectives. 4. Implementation of marketing plan and development of tactical plans to overcome problems at the market place ; and 5. Development of control mechanisms.
Marketing is therefore, an important organizational function. Interestingly, an important aspect of buyers is ignored, i.e that they too use the marketing ,sales and production concept. Buyer and marketer are roles played by individuals and their behavior in exchange relationship determines whether they are adopting the marketing, sales or production concept .For example, the buyerâ€™s side in a marketing exchange gathers information about current and potential exchange partner. Then the buyerâ€™s side tailors offerings like product, price or even point of purchase, mentioned above, but aggressively purchase exchange through other elements of the marketing mix, like word of mouth of publicity ,sales talk, etc. This has been termed as the buying concept, as it is the buyerâ€™s form of the sales concept. Likewise ,when the buyer is passive in his buying behavior, accepting or rejecting whatever that has been offered to him and not actively seeking an exchange ,it has been termed as the offering concept as it corresponds to the production concept.
Products are the goods and services that your business provides for sale to your target market. When developing a product you should consider quality, design, features, packaging,...
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