Marketing Is An Intelligent Appreciation Of Modern Marketing Practices

2121 Words9 Pages
8. Marketing is Goal-oriented. Like any other business activity, marketing seeks to achieve some useful results. The ultimate aim of marketing is to generate profits through the satisfaction of human wants. The following aims are sought to be achieved by studying marketing: (a) To develop an intelligent appreciation of modern marketing practices; (b) To provide guiding policies regarding marketing procedures and their implementation; (c) To study marketing problems according to circumstances and to suggest solutions; (d) To analyze the shortcomings in the existing pattern of marketing; (e) To enable successful distribution of agricultural products, our mineral wealth, and manufactured goods; and (f) To enable managers to assess and decide…show more content…
It is the whole business seen from the point of view of its final result, that is, from the customer 's point of view." Marketing is the main reason for the existence of business. In this age of rapid change, marketing is the springboard of all business operations. It is the guiding element of every business. It is a powerful mechanism which alone can satisfy the needs and wants of consumers at the place and price they desire. The success of a business depends largely on the effectiveness with which its marketing strategies are formulated and implemented. Marketing guides the actions and decisions of every one in business. Marketing is essential for the very purpose of business as can be judged from the following lines, "Business aims at profit. To realise profit, a sale has to be made. To make the sale, a customer has to be created. To create the customer, he must be satisfied. To satisfy the customer, his needs have to be met. To meet customer needs, marketing is essential." Marketing is said to be the eyes and ears of business because it keeps the business in close contact with its environment and informs of events that can influence its operations. Marketing is concerned with the creation of four utilities—firm, place, time and possession utilities. The firm utility is created through product development, packaging, branding and standardisation. Place utility is created through transportation and by middlemen who direct the flow of goods and
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