The Scope of Marketing

Hi ,

To be a marketer, You need to understand what marketing is, how it works, who does it and what is marketed.

What is Marketing?

Marketing is about identifying and meeting human and social needs. One of the shortest good definitions of marketing is "meeting needs profitably". Marketing is the activities, set of institutions, and processes for creating, communication, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

What is Marketed?

 Marketers market 10 main type of entities: goods, services, events, experiences, persons, places, properties, organizations, information, and ideas.
Goods: physical goods constitute the bulk of most countries production and marketing efforts.
Services: Services are the non-physical, intangible parts of our economy, as opposed to goods, which we can touch or handle.
Events: Marketers promote time-based events, such as major trade shows, artistic performances, and company anniversaries.
Experiences: By orchestrating several services and goods, a firm can create, stage, and market experiences.
Persons: Artists, musicians, CEOs, physicians, high-profile lawyers and financiers, and other professionals often get help from marketers.
Places: Cities, states, regions, and whole nations compete to attract tourists, residents, factories, and company headquarters.
Properties: Properties are intangible rights of ownership to either real property or financial property.
Organizations: Museums, performing arts organizations, corporations, and nonprofits all use marketing too boost their public images and compete for audiences and funds.
Information: The set of data that has been organized for direct utilization or knowledge communicated or received concerning a particular fact or circumstance.
Ideas: A thought or suggestion as to a possible course of action.

Who Markets?
Marketers : A marketer is someone who seeks a response-attention, a purchase, a vote, a donation from another party called the prospect. If two parties are seeking to sell something to each other, we called them both marketers.
Marketers are skilled at stimulating demand for their products:
1.Negative Demand
2.Nonexistent demand
3.Latent Demand
4.Declining demand
5.Irregular demand
6.Full Demand
7.Overfull demand
8.Unwholesome demand

                                                                  A simple marketing system

Thanks

Abhishek Tripathi

 

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