Market is a place where a buyer and seller meet and buyer purchase their products from the seller. Marketing is a process in which the seller promotes his products and increasing the distribution according to the need of customer and provide goods and services to satisfy the customer need. So management of marketing activities is known as marketing management. By managing the market it create growing customer number and help in profit making by the firm and it also help the firm to survive in the market field for long.
Dr. Philip Kotter defines marketing as the science and art of exploring, creating and delivering value of satisfying the needs of target market at a profit. Marketing identifies unfulfilled needs and desires, it defines measure and quantifier market and profit potential.
The concept of market has been evolved from a very long time ago. Marketing is an ancient art and it is considered as the oldest profession. The idea of marketing have been took place during the nomadic hunter stage. During this stage humans used to hunt and gather food. The very first marketing concept that is barter system which was prevailing during those times. Barter system means, the system of exchanging product for product. Later during the stone age and this age is also known as Agrarian age ,as human developed there sense they also developed the marketing system, like man stated producing and he started producing more than his need and also people start getting specialized in activities like agriculture, fishing etc.., the people get assembled in a place like local market and started exchanging products.
Then during pre industrial period, people started adopting a common medium for their transaction. This is because the the value of product become a important factor so they started to used copper and iron and later they used silver and gold for exchange. During this time people started producing large quantity of product and employment has developed. So many development took place during this period . In present industrial period, so many new method of marketing have been emerged. New innovations which made the marketing easier and effective. Which also resulted in high competition in the field of market .
As Competition increase the marketers should understand the nature and factor affecting the marketing. The marketer has to set up a strategy to overcome the competition. The marketer aim should be in customer need and satisfaction, because customer is the king . By capturing value from the customer it helps to create a good profile of marketers product and firm in market.
Marketing should not be money oriented , it must be always customer oriented. Even though marketing is a continuous process it starts and end with customer. Existence of market is only in the hands of customer. Marketing should always create good image in the minds of people. So that they can survive in competition. Marketing should also emphasis on the welfare of the society. It should not exploit customer, it should always promote good for the customer by taking social and moral responsibility this can be attained only through proper marketing management. Market has greater impact on human life, since it has undergone many development from ancient times to till now and may by more innovative management it will be developed in future too.
Aishwarya Says:
I have always been against Glorifying Over Work and therefore, in the year 2021, I have decided to launch this campaign “Balancing Life”and talk about this wrong practice, that we have been following since last few years. I will be talking to and interviewing around 1 lakh people in the coming 2021 and publish their interview regarding their opinion on glamourising Over Work.
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In the year 2021, we wrote about 1000 Inspirational Women In India, in the year 2022, we would be featuring 5000 Start Up Stories.