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Business enterprises conduct their marketing activity around these five concepts: 1) The Production Concept 2) The Product Concept 3) The Selling Concept 4) The Marketing Concept 5) The Societal Marketing Concept. 1) The Production Concept: The production concept emerges out of the production orientation of the firm.It is based on the idea that the more […]
A. Exchange Functions: Buying- Buying is the one part of exchange process, other being the selling. Buying is the first step in the process of marketing. A manufacturer has to buy raw materials for production, a wholesaler has to buy goods to sell to the retailer, and a retailer has to buy goods to be […]
It is difficult to analyze the environmental factors affecting Indian market. Ours is a vast country with various religions, caste, sub-caste, languages, culture, etc. Each of these factors operates at different levels & art different places. 1. Vast Market: The Indian market is the second largest in the world considering its population. If consumption is […]
1. Creation of Demand: The marketing management’s first objective is to create demand through various means. A conscious attempt is made to find out the preferences and tastes of the consumers. Goods and services are produced to satisfy the needs of the customers. Demand is also created by informing the customers the utility of various goods […]