I.

Introduction

Marketing, process of identifying, anticipating, and satisfying customer requirements for consumer goods or services. Early marketing techniques involved little more than making potential consumers aware of a product’s existence and benefits, and getting it to the market. Now, however, the marketing process starts even before decisions are taken about what products should be made.

Marketing concentrates on the buyers, or consumers, determining their needs and desires, educating them with regard to the availability of products and to important product features, developing strategies to persuade them to buy, enhancing their satisfaction with a purchase, and, finally, building trust and long-term relationships with them where appropriate. Marketing also looks to create successful brands to which customers are attracted and remain “loyal”. Strong brands are increasingly important for businesses, as long-term relationships with consumers generate greater profits.

Marketing management includes researching, planning, organizing, directing, and controlling decision-making regarding product lines, pricing, promotion, and servicing. In most of these areas, the marketing department has complete control; in others, as in product-line development, its function is primarily advisory. In addition, the marketing department of a business is responsible for the physical distribution of the products, determining the channels that will be used, and supervising the efficient flow of goods from the factory or warehouse.