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NATURE AND IMPORTANCE OF MARKETING. MEANING OF MARKET. Market is the whole of any region in which buyers and sellers are brought into contact with one another and by means of which the prices of goods tend to be equalised easily and quickly. CLASSIFICATION OF MARKETS. MARKETING.
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MEANING OF MARKET • Market is the whole of any region in which buyers and sellers are brought into contact with one another and by means of which the prices of goods tend to be equalised easily and quickly.
MARKETING • OLD OR TRADITIONAL APPROACH TO MARKETING • NEW OR MODERN APPROACH TO MARKETING
MARKETING “ Marketing includes all activities involved in the creation of place, time and possession utilities. Place utility is created when goods and services are available at the places they are needed; time utility when they are needed; and possession utility when they are transferred to those who need them.’
APPROACHES TO THE STUDY OF MARKETING • COMMODITY APPROACH • INSTITUTIONAL APPROACH • FUNCTIONAL APPROACH • MANAGERIAL APPROACH • SOCIETAL APPROACH • SYSTEMS APPROACH • MARKETING AND SELLING • MARKETING MANAGEMENT AND MARKETING
