Marketing are activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people.

  • Customer focus

    It makes an attempt to study the customer needs, and goods are produced accordingly. The business existence depends on human needs.

  • Customer satisfaction

    A customer expects some services or benefits from the product for which payment is made. If this benefit is more than the amount paid, then the customer is satisfied.

  • Objective-oriented

    Different objectives are fixed at different levels, but the main objective is to earn profit from business along with the satisfac­tion of human wants.

  • Marketing is both art and science

    Art refers to a specific skill that is required in marketing activities of any type of business. Science refers to a systematic body of knowledge, based on facts and principles.

  • Continuous and regular activity

    Marketing is an activity designed to plan, price, promote and distribute products. At the same time, it also addresses both the current and future consumers.

  • Exchange process

    Exchange takes place between sellers and buyers. Most of marketing activities are concerned with the exchange of goods.

  • Marketing environment

    Economic policies, market conditions, and environmental factors, such as political, technological, demographic and international, influence marketing activities.

  • Marketing mix

    A combination of four inputs constitutes the core of a company’s marketing system—product, price, place, and promotion.

  • Integrated approach

    Functions such as production, finance, research, purchasing, storekeeping and public relations (PR) are to be integrated with marketing.

  • Precedes and follows production

    Identifying consumer needs and wants is the primary task of a marketing manager. Production activities are adapted to these consumer needs. Thus, marketing precedes production.