Market and marketing (0)

Good afternoon! My name is …
I will be speaking today for 10 minutes about market and marketing .
At first I am going to talk about meaning of market and I must define what is market in modern marketing context . The common usage of market means a place where goods are bought or sold. A market need not necessarily mean a place of exchange . The word market is commonly used and may even mean or aim in any of the following :

• Market may mean a place where buying and selling take place
  
• Buyers and sellers come together for transaction
  
• An organization through which exchange of goods takes place
  
• The act of buying and selling of goods (to satisfy human wants)
  
• An area of operation of commercial demand for commodities
  

In addition , I have to define what is marketing. Marketing is a human activity to satisfy needs and wants, through an exchange process . A demand is a want for which consumer is prepared to pay a price . A want is anything or service the consumer desires or seek . Wants become demand when backed by purchasing power . Marketing is the creation and the delivery of a standards of living , it is finding out what customers want, then planning and developing a product or service that will satisfy those wants and then determining the best way to price, promote and distribute that product or service. The purpose of business is to create a customer by which stress is laid on to aspects: 1) identification of consumer needs and 2) organizing the business to meet these needs.
And now about importance of marketing to the society. In today’s society marketing plays a major role . For the next examples:

• It is connecting link between the consumer and the producer. Marketing process brings new items to retail shops, from where the consumers can buy them .
  
• It helps in increasing the living standard of people. Because of large scale production , prices of good come down. Thus, reduction on price will result in a higher standard of living.
  
• It helps to increase the nations income. Efficient system of marketing reduces the cost to the minimum, this in turn lowers the prices and the costumer’s purchasing power increases. This will increase the national income.
  
• In increase employment opportunities. For continuous production, continuous marketing is needed. Thus, increased activity provides more job opportunities to many people.
  
• It helps in selling surplus goods to other countries where there is demand for such goods.
  

Beside I would like to talk about features of modern marketing
Firstly, consumer orientation: Modern marketing recognizes that the consumer is supreme. The managerial attention is focused on the market and the consumer. Management is now concerned with consumer satisfaction and not profit or sales volume alone. Consumer has become the center of all business decisions . Having satisfied customer is the main aim of modern marketing and profit can be earned only by serving the consumer’s needs.
Secondly, modern marketing begins with the consumers: Producers in earlier times had little care for the consumers. Now, production is carried on in large quantity. The manufacturers produce more than what people need. Market has developed form national to international. Competition is the order of the day. Businessman have started realizing that earing profit is possible only through the consumer’s satisfaction.
Thirdly, modern marketing begins before production: earlier there was less competition and as such sales were easily made. But now this stage has changed. The consumer looks for the usefulness and acceptability of product. As such it has become necessary to find out the needs and desires of costumers through market research. The information from the market or the costumer will decide the future of the product.
Finally , modern marketing is a guiding element: At present competition, has increased because many manufactures produce similar goods in large quantities. The ability of the marketer depends on the ability to find a consumer and to satisfy him. People may choose one among the many similar products . They decide what product to purchase and what product not purchase.
Pricing
Price is the main factor which affects marketing and sales organizations. A good price policy is of great importance to the produces, wholesalers, retailers and the consumers. If the prices are too high, only a few buyers purchase and if the price are low, several buyers purchase. Thus, market may be reduced or increased. Therefore , a sound pricing policy must be adopted to have maximum sales. Without price, there is no marketing in the society.
All the marketers should decide, whether as a result of policy, the will initiate or follow price changes . The company initiating price changes is called price leader ad those following it, price followers.
And price moves down just for the opposite reasons.
In conclusion , we can say that, what client needs and wants are the basis of all, because the main aim of marketing is to satisfy needs and wants, through an exchange process. Marketing helps to increase the nations income, the living standard of people and employment opportunities, also helps in selling surplus goods to other countries. In addition, I would like to highlight that in modern marketing consumer is supreme and price is main factor which affects marketing. Thank you very much for your attention, and now your questions please ?