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Nature and Scope of Marketing

Nature and Scope of Marketing

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Nature and Scope of Marketing

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  1. Nature and Scope of Marketing

  2. Marketing: • A set of activities that gets the products from producers to consumers where, when and how they want they want. • If done well production will match consumption • Business will be able to sell their goods and services and consumers will be able to obtain what they need and want.

  3. Value added of marketing • Cost of Marketing activities • Buying, Selling, Transporting, Storing, Financing, Researching, Risk taking, Grading and valuing

  4. Role of Marketing • Shift from being production and sales oriented to being customer oriented • Long term success of the business will depend on satisfying the customer so that they will continue to buy from the company

  5. Role of Marketing • Market Determination • Whom to serve • Where to serve • Identifying target markets