Discuss about the term marketing briefly.
Marketing: All organisations are engaged within producing products or services meant for employ/consumption through people at huge. Requirements and wants are part of human characteristics and people are inclined to look for and acquire such products and services which satisfy their wants and needs. An organisation comes in being within the environment to satisfy such wants and requirements of people. Thus, for the organisation to survive, this needs to identify and understand the customer and also, the product or service which fits him and sells itself. Marketing results within a customer who is ready to buy himself.
Therefore, all organisations require marketing to sell their products and services. Through marketing the organisation is capable to find out the values, wants and requirements of a target market and to adapt the organisation to deliver the required satisfaction, more effectively and capably than the competitors. It in turn, assists the organisation to attain its objectives.
Companies can’t survive today by just doing a good job into producing goods and services. They should do a brilliant job in marketing such goods and services into the face of stiff competition and technological innovations. Therefore marketing becomes as integral post of the organisation.
Marketing included execution and planning of all aspects and activities of a product or service in order to exert optimum affect on the consumer to result into maximum consumption at the optimum price, and thus, producing the maximum long term profit for organisation. Hence, all organisations require marketing.