THE MEANING OF MARKETING IN GENERAL

In this current era, many marketers may or may not know the early marketing development. Below is the history of marketing.

Marketing as a business activity develop from the early functions of distributions and selling which characterized the simple system of barter, to the stage of money transactions and monetary economy. Since the early 20th century, marketing has come to mean the study of the mechanism of exchange and its relationship with other studies. It has been suggested marketing on the global level would be quite different from what it is now, especially with the introduction of new technologies such as the computer, the internet and communication technologies.

Currently, Marketing has gone beyond what the olden people used to know it as, It is a platform where people will sit the respective homes and enjoy.

MEANING OF MARKETING

According to Committee of definitions of the American Marketing Association, “marketing is the performance of business activities that direct the flow of goods and services from the producer to the consumer or user”. For marketing to take place, there must be product .

MEANING OF PRODUCT

A product could be defined as something that is capable of satisfying human wants or needs. A product is identifiable by the service it renders to an individual. It is something that enables the processor to solve a problem.

FUNCTIONS OF MARKETING

Marketing fulfills some basic functions such as creating a market arena, buying, selling, personal selling, advertising, and sales promotion. Its other complementary activities include sales manuals, displays, enlisting dealers’ co-operation, transportation, storage standardization and grading, financing, risk bearing and marketing communication.

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