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Marketing involves a set of activities that facilitate the exchange of goods and services between producers and consumers, ensuring that products are available where, when, and how consumers want them. By focusing on customer needs and preferences, businesses can tailor their offerings to match consumer demand, leading to long-term success and customer satisfaction. This process encompasses activities such as buying, selling, transporting, and researching, adding value to products and determining market strategies.
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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.
Value added of marketing • Cost of Marketing activities • Buying, Selling, Transporting, Storing, Financing, Researching, Risk taking, Grading and valuing
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
Role of Marketing • Market Determination • Whom to serve • Where to serve • Identifying target markets
