The nature and role of markets and marketing. study notes.

The nature and role of merchandises and market placeing. - marketing is the move of planning and hightail it the conception pricing, promotion and distribution of ideas, goods and services to create exchanges that saisfy individual(present and electric potential customers) and organisational objectives. The role of marketing in the firm and society-70% of all newfound products fail within the first year of being launched. - for a profession to achiee its main objective of maximising cut-rate sales or mesh, it must develop and implement an effective marketing plan. - businesses at once put a strong emphasis on customer-oriented marketing. The business needs to see itself as a customer-satisfying process alternatively than a productional process-to achieve a goal of profit the market plan should be the focus of all short circuit border planning for three reasons:1.the marketing plan oulines the strategies to be use to bring the barter forer and seler to becomeher. The busi ness needs to be fitted to:?Where the market is?Who leave behind buy the product?why they will buy the product?How often the will buy the product2. the affectionateness of marketing is satisfying the existing customer wants, starring(p) to take up sales. 3. marketing is the revenue generating activity of any(prenominal) business. Nothing is achieved until a sale is made.

Types of marketsResource market ? consists of those individuals or groups that argon engaged in all forms of primary production, including mining, agricultural, forestry and fishing. Industrial market- includes the industries and businesses tha t barter for products to use in the product! ion of other products or in their daily operations. Eg sony buys plastics and surface to produce electronic equipment. Intermediate market (or resellers) - consists of wholesalers and retailers who purchase a finished product and resell them to figure out a profit. Eg. pipe is a retailer that buys goods to make into sandwiches and salads for sale to consumers. If you want to get a full essay, order it on our website: OrderCustomPaper.com

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