Introduction to Marketing and Sales Class 9
What is marketing?
Marketing is performance of business activities that direct the flow of goods from producers to consumers or users.
The Marketing process includes all those activities which affect changes in the ownership and possession of goods and services.
According to the Marketing Guru Philip Kotler, “Marketing is a social and managerial process by which individuals and organization get what they need and want through creating, offering and exchange products of value with others.”
Marketing is concerned with:
- Discovering and translating consumer needs and desires into products and services.
- Creating demand for these products and services.
- Serving the customers' demand.
- Expanding the market even in the face of keen competition.
The general aim of marketing is to have a regular flow of goods among customers with a definite target to ensure the optimum satisfaction of the organization, customers and society.
These can be achieved by the businesses by following these concepts:
Done in Class 7, Check notes: Marketing Notes – Class 7
Introduction to Marketing and Sales Class 9
Importance of marketing in business
Done in Class 7, Check notes on the above-mentioned link.
Concept of utility
Utility is the overall capacity of a product to satisfy needs of a consumer.
The utility of each actual product would depend on how close it can be to this ideal product.
What is sales?
Sales is
1) A transaction between two parties where the buyer receives goods (tangible or intangible goods), services and/or assets in exchange for money.
2) An agreement between a buyer and seller on the price of a security.
Marketing = Align with the Customers, Now and for the Future.
Without Marketing, Sales Suffers.
Importance of sales
In any business organization, be it medium or large, it is the sales department that generates revenue. A sales organization has a number of departments and performs the functions of planning, organizing and controlling marketing and distribution of products.