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Meaning of Marketing

Marketing is an activity to induce people to purchase and sale goods & services. Marketing refers to processes, functions, and activities that create perceived value in eyes of customers.

Marketing in recent decades has gained a lot of importance because of a number of factors.

Rapid economic growth, globalization, technological upgradation, ever-increasing human needs and wants and increasing purchasing power of people are some of the factors.

In marketing, it is more important to do what is strategically right than what is immediately profitable.


Reason why marketing decisions require special attention

or issues or variable or Marketing strategy

Marketing Variables or Issues

There are countless variable or issues in marketing strategy. These issues are the reasons why marketing decisions require special attention.

Some examples of these issues are as follows:

Memory code –CPT Distributes CLAPS

(i)           Cost structure of market

(ii)          Price sensitivity of market

(iii)         Technological structure of the market

(iv)         Distribution network—exclusive or multiple channel      

(v)          Complete warranty or limited warranty

(vi)         Limit of business with single customer or dealer

(vii)         Advertisement budget and extent of advertising

(viii)        Price leader or follower

(ix)          Salary or commission or both

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