Marketing

Marketing involves selling, distribution, buying, transportation of goods. Marketing also involves keeping producers aware of the needs of consumers and ensuring that their products are made available to consumers in the way and form they want. Two things are necessary for marketing: producers and consumers. Pro­ducers must know what to produce. Consumers must know that it is being pro­duced. Linking these two factors together is the task of the marketing staff.

Marketing has some functions. They are: market research, distribution, pric­ing, advertising, selling.

Market research involves the finding out what consumers want, for example, standard of quality, style of packaging, and choice of brand-name and design of prod­ucts.

Distribution is important too. Products can be distributed to consumers in different ways, through retail outlet, network of wholesalers or retailers or by di­rect mail-order.

Pricing should be in close touch with market conditions. Marketing managers have to advise and determine the best prices for goods.

Advertising is the promotion of new goods. If customers do not know about new products, they will never buy them. Marketing managers should know the best ways to advertise products. This involves choice of media, for example, radio, television, press and so on.

Selling is the skill of personal selling, together with display and presenta­tion, such as window displays, exhibitions, and product promotions.

So, marketing and the development of all its branches are linked together and important for well-being of mankind.