Marketing:
Generally the action or business of promoting and selling products or services, including marketing research and
advertising.
advertising.
The meaning of the term marketing can be studied under the two heads, viz.,
- A traditional or old marketing concept.
- Modern marketing concept.
Traditional concept:
In the process of distributing goods from the producer to the ultimate consumers or users, there are several obstacles or difficulties. First, goods have to be transported or moved from the centers of the production to the centers of consumption or use. In other words, place utility has to be created. Place utility can be created by transporting goods from the places of production to the places where they are needed for consumption or use.
Secondly, goods have to be made available to the ultimate consumers or users at the time when they are needed. That means, time utility has to be created. Time utility can be created by storing the goods in warehouses until they are needed and supplying them from the warehouses when they are demanded by the consumers or users.
Thus, in the process of flow of goods from the centers of production to the centers of consumption or use, a number of activities have to be undertaken, and place, time and possession utilities have to be created. The various activities that help in the creation of place, time and possession utilities and direct the flow of goods from the centers of production to the centers of consumptions or use constitute the subject matter of marketing.
The meaning of the traditional marketing concept is clear from the following definitions of marketing given by the authorities on marketing.
From the above discussion, it is clear that, according to the traditional marketing concept, marketing is a mere physical process or set of activities connected with the exchange of goods or selling. In short, according to the traditional marketing concept, marketing is "sales-oriented".
Secondly, goods have to be made available to the ultimate consumers or users at the time when they are needed. That means, time utility has to be created. Time utility can be created by storing the goods in warehouses until they are needed and supplying them from the warehouses when they are demanded by the consumers or users.
Thus, in the process of flow of goods from the centers of production to the centers of consumption or use, a number of activities have to be undertaken, and place, time and possession utilities have to be created. The various activities that help in the creation of place, time and possession utilities and direct the flow of goods from the centers of production to the centers of consumptions or use constitute the subject matter of marketing.
The meaning of the traditional marketing concept is clear from the following definitions of marketing given by the authorities on marketing.
"marketing consist of those efforts which affect the transfer in ownership of goods and care for their physical distribution."-Tousley, Clark and Clark
"Marketing is the performance of business activities that direct the flow of goods and services from producer to consumer or user"-Ralph S Alexander
From the above discussion, it is clear that, according to the traditional marketing concept, marketing is a mere physical process or set of activities connected with the exchange of goods or selling. In short, according to the traditional marketing concept, marketing is "sales-oriented".
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