What is Marketing

There are two approaches to marketing: Traditional and Modern.

  1. In Traditional Sense, marketing refers to performance of business activities that direct the flow of goods and services frim producers to consumers.
  2. In Modern Sense, marketing refers to a social process by which individual groups (consumers) obtain what they need and want, through creating offerings and freely exchanging goods and services.
    Marketing management us about choosing the target markets and targeting the consumers and attaining the goals of satisfaction of Consumers needs, Increase in sales volume, Increasing day to day profits. In short, marketing management refers to planning, organising, directing and controlling activities which helps in exchange of goods and services.
    Utility refers to the value of satisfaction a customer receives from the exchange of goods or services.
    There are 4 types of utilities of marketing:
  3. Utility of place
    Utility of place refers to the availability of the goods and services at the location which is convenient to the targeted customers. This utility is important because you can ensure your customers that they will find the product at the place which is convenient for them to buy.
  4. Utility of Possession
    This utility gives your customers ownership of a product or service they are utilising so that then can take maximum benifit out of that.
  5. Utility of Time
    By utility of time, you ensure your customers that the products or the services they demand for will be available to them whenever they need.
  6. Form Utility
    From utility will help you to customise your product or services according to the customer’s needs.

Astha Gupta
(BBA, 3rd MORNING, B Section)

Rashmi Gujrati

Prof. Dr. Rashmi Gujrati , Professor-Dean (International Affairs) CT University, India President-Editor-In-Chief Tradepreneur Global Academic Platform, UK (Institution of Research & Development) Qualification: M.com, MBA, Ph.D. Specialization: Marketing, Finance & International Business, Entrepreneurship. Editor-In-Chief International Journal of Business Operation Editorial Board member of (IJEFMS) Science Publish Group, USA Editorial Board Member of Academic for Global Business Advancement Association, USA Reviewer of Common Ground Research Networks University of Illinois, USA Reviewer IBIMA Association, Spain Scientific Review Committee, Advisory Board Member of AASE Member Chung Yuan Christiana University, Taiwan Scientific Board Member of InTraders Academic Platform, Turkey Editorial Board Member of Journal of Agriculture, Food, Environment and Animal Sciences, Turkey Indian Commerce Association Indian Accounting Association Indian College Principals Association Review & Editorial Committee Board Member Laescuela Education Scientific Committee Member of Research Synergy Foundation (RSF) Indonesia Editorial & Review Committee member FSSER Malaysia Editorial & Review Committee member GI-SSF Malaysia +919759347347

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