Modern Marketing

The need for marketing in the true sense is being felt more now than ever before. It is an exciting and dynamic subject affecting all of us right from the time we wake up.

Let us look at the impact of marketing in our daily lives.

It is 7 AM in the morning. The alarm of  the SAMSUNG handset buzzes loudly. You remove the SIGNORA blanket and stretch comfortably in your FABINDIA kurta pyjama (males) or CLOVIA nightclothes (women).
Half asleep you sit on the edge of the bed and put your feet in the BATA  footwear. You head for the washroom which has been painted with ASIAN PAINTS matte finish. The tiles from JOHNSON still look new as is the floor tiles from SOMANY.
You pick up the COLGATE toothbrush and start brushing with the PEPSODENT  toothpaste.
This is the start of the average daily routine.

Marketing affects everyone whether an employee or an employer.
Traditionally marketing is an activity related to business- be it manufacturing or trading. Gone are the days when marketing was the responsibility of   only the marketing department of the firm. Today  everyone is a marketer. Whether it is the doorman of the firm who greets the visitor with a genuine smile (not a forced one) to the MD of the firm who attends to the visitor in a social gathering, everyone is marketing the firm.

One way to explain the term marketing is from the business viewpoint. It is a 'delivery of a high standard of living" Due to firms marketing their products and services ( as seen from the above example) people become aware of brands and that creates a need to possess them.
Another way of looking at marketing is that it is an exchange process. An exchange unlike barter, although involves two parties, each party gives up something of value and gets something of equal value. In case of barter, often the exchange resulted in unequal value for either the buyer or the seller.

According to Philip Kotler, "marketing is a societal process through which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others'.

Regular exchanges like these are beneficial for any economy. Resources get generated and allocated in the process of exchange leading to employment generation and thus generation of income, leading to growth and development of the economy.

Nevertheless marketing takes place in all kinds of organisations be it PSUs, NGOs and of course commercial manufacturing/trading concerns.

The American Marketing Association (AMA) has coined a definition in a  broader context. According to AMA "marketing is the process of planning and executing the conception, pricing. promotion and distribution of goods, services, ideas to create exchanges that satisfy individual and organisational goals"
Carefully planned marketing programs for all kinds of organisations help them to achieve success and growth.

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