Marketing Management

Jun 29th, 2015
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The term Market is derived from the Latin word “Marcatus” which means merchandise, trade or a place where business is conducted. Marketing is total system of interacting business activities designed to plan, price, promote and distribute want satisfying products and services to present and potential consumers”.

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Marketing Management Unit -IMarketing - Definitions - Conceptual frame work - Marketing environment : Internal and External - Marketing interface with other functional areas - Production, Finance, Human Relations Management, Information System. Marketing in global environment - Prospects and ChallengesDefinitionThe term Market is derived from the Latin word "Marcatus" which means merchandise, trade or a place where business is conducted. Marketing is total system of interacting business activities designed to plan, price, promote and distribute want satisfying products and services to present and potential consumers". FUNCTIONS OF MARKETINGThe functions are as followsBuying - people have the opportunity to buy products that they want.Selling - producers function within a free market to sell products to consumers.Financing - banks and other financial institutions provide money for the production and marketing of products.Storage - products must be stored and protect ed until they are needed. This function is especially important for perishable products such as fruits and vegetables. Transportation -products must be physically relocated to the locations whereconsumers can buy them. This is a very important function. Transportation includes rail road, ship, airplane, truck, and telecommunications for non-tangible products such as market information. Processing - processing involves turning a raw product, like wheat, into something the consumer can use --

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