Microsoft Word marketing doc

THE CONCEPT BENEFITS THE SOCIETY 
When more and more corporations resort to the marketing concept, the 
society in to benefits. The concept guarantees that only products that are 
required by the consumers are produced and thereby it ensures that the society’s 
economic resources are channelised in the right direction. It also makes 
economic planning more meaningful and more relevant to the life of the people. 
1.3 MEANING 
OF 
MARKETING 
Marketing has come to mean many things. We observe that house-
wives, who return home after buying vegetables and provisions, state that they 
have just finished marketing activity. 

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Salesman, who sell the products of their employers by booking orders 
from the different merchants also refer to their work as marketing. Thus, 
buying and booking of orders are both referred to as marketing. To understand 
the meaning of the term Marketing, let us consider a few definitions. 
- According to the American Marketing Association, 
Marketing as the “performance of business activities that directs the flow 
of goods and services from producer to consumer or user”. 
The business activities that enable the producer to get in touch with the 
users, cover a host of things. The products have to be developed transported, 
stored and distributed to the traders or retailers before the user/consumer is 
contacted. Human needs and wants give rise to the concept of goods and 
services as products. Hence, marketing activities will have to include the 
collection of information about the consumers wants, desires, incomes and 
sources of influences over him. 
- According to William J. Stanton,
Marketing as “a total system of business activities designed to plan, 
price, promote and distribute want satisfying goods and services to the present 
and potential customers”. 
- According to Marting L. Bell’s, 
Marketing as “the management task of strategically planning, directing 
and controlling the application of enterprise effot to profit making programmes 
which provide customer satisfaction - a task which involves the integration of 
all business activities into a unified system of action”. 
- According to Philip Kotler, 
Marketing as “a human activity directed to satisfying process”. 
The above definitions provide us an idea on the nature of marketing.
The features in the above definitions are that marketing, 
a)
is an exchange process. 
b)
covers a variety of functions to be carried out in an integrated 
manner, and 
c)
is directed to satisfy the needs/desires/wants of the consumer. 

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