HSC: Business studies- Marketing notes

The nature and role of marketing

food marketing: A total system of activities designed to plan, price, promote and place (Distribute) products to present and potential customers

Role of marketing

·         Find bring out what customers want and then attempt to indulge their needs

·         Bring unneurotic the buyer and the seller

·         Generate revenue for their business

Customer based market VS crossing based marketing

Find the customers Create product

Then create the product Then cast the customers

Type of Market

Marketing plans and strategies vary depending on the intended market.

Resource Market: produce a wide range of raw materials to customers such as rural firms.

Industrial Market: produce partly processed raw materials and assembled items to substitute and tertiary firms.

Intermediate Market: After a making a product producer sells it on the intermediate market to a retailer or wholesaler. It is a stage along scattering chain from producer to consumer.

Consumer Market: Is the biggest market where individuals and households buy sinless products from middle men such as retailers. Producers and sellers studying purchase habits of consumers to satisfy them and in turn make a profit.

Mass Market: Deal with products for which there is a great demand. These are standard, unvarying products such as fruit and ve foilables, meat and petrol.

Niche Market: These are sm wholly target markets, which are lower in leger but higher in value. Services such as web page design and products like imported cars decoct on the particularly important needs of individuals and businesses.

The Marketing Concept

Involves all of the businesss activities, which aim at achieving customer satisfaction. This can be effected through:

1.         Customer orientation: The focus is producing products and services to satisfy consumers particular needs. Thus marketing decisions and practices are based on customers needs.

2.         Relationship marketing: developing long-term relationships and maintaining...

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