SECTION - I

1
INTRODUCTION TO MARKETING PART I
Unit Structure 1.0 Objectives 1.1 Introduction 1.2 Meaning & Definitions of marketing 1.3 Importance of marketing 1.4 Scope of marketing 1.5 Concepts of marketing 1.6 Role of marketing manager in changing environment 1.7 Summary 1.8 Exercise

1.0

OBJECTIVES

After studying this chapter students will be able to: Understand the meaning and definition of marketing. Explain the nature of marketing Discuss the importance of marketing Know the scope of marketing Explain the concepts of marketing

1.1

INTRODUCTION

The emergence of ‗marketing‘ as a business discipline is of relatively recent origin. Though it has been practiced from the time of barter through money economy to today‘s modern complex marketing system, exchanges have been taking place. The

ideas associated with marketing have undergone a great deal of change over centuries. Even after marketing became a full–fledged business discipline. Marketing, more than any other business function, deals with customer. It revolves around the customer. Building relationship based on customer value and satisfaction is at the very heart of modern marketing. The pricing strategies adopted the promotional tools selected; the design, shape and size of the product and the place of sales etc. are all decided after finding out the lifestyle, culture, buying habits and media consumption habits etc of all customers Marketing links producers and consumers together for mutual benefits production will be meaningless if goods produced are not supplied to consumers through appropriate marketing mechanism. When we saw around us we find marketing in advertisements that fill our T.V. spice up our magazines, stuff our mailbox or enliven our web pages. At home, at school, where we play, and where we work. We came across the marketing in almost everything that we do. Behind