Marketing involves satisfying consumer needs and wants through an exchange process. It is consumer-oriented and focuses on identifying consumer needs before satisfying them. The main goal of marketing is balancing consumer satisfaction, social welfare, and profit, rather than just profit maximization. It is a process that coordinates with other business functions to achieve organizational objectives and considers the target market.

1. MARKETING
Marketing is a process which satisfies the needs and wants if the
consumers through the exchange process. Marketing gives lot of
importance to the consumer needs, wants & preferences. It first finds out
the consumers needs and wants, then satisfies their needs and wants.
Marketing is consumer oriented.
The main objective of the marketing is not profit maximization is not
profit maximization. Its main obj is a balance between consumer
satisfaction + social welfare+ profit.
“marketing is a human activity directed at satisfying the needs and wants
of the consumers through the exchange process.”. – philip kotler

2. FEATURES
• Process
• Continuous process
• Consumer oriented
• Precedes (is done b4) & follows(after) production
• Importance to marketing mix
• Co-ordinates with other functions
• Achieves obj of organization
• Target market
• Deals with Goods, services & ideas
• Importance to social welfare

3. IMPORTANCE
• Marketing Research
• Product planning & development
• Buying & Assembling
• Selling
• Packaging & packing
• Storage & warehousing
• Transportation
• Standardization & Grading
• Branding
• Financing
• Advertising
• Sales promotion
• Pricing
• Salesmanship / personal selling
• Risk – bearing / taking

4. CONCEPTS OF MAREKTING
• Exchange concept
• Production concept
• Product concept
• Sales / selling concept
• Marketing or customer Oriented concept
• Societal concept

5. SHORT NOTE : SELLING CONCEPT
• According to selling concept, d customers ll not buy nethg by themselves. They
must persuaded or induced or coaxed to buy d product. They must be attracted
towards the product. If not d customer will not buy the product. So, d company must
use aggressive & attractive advertising, publicity, personal selling & sales
promotion tools such as discount offers, free gifts, etc to attract the customers
towards the product
• Selling concept is also called as sales concept. It is not interested in consumer
satisfaction
• It is also used by NPO such as schools, colleges, etc to get admission, to raise
funds & to persuade d public to vote for particular candidate
• Philosophy
• History
• When used
• Techniques used
• Assumptions
• Risky

6. SHORT NOTE : SOCIETAL CONCEPT
• It gives importance to consumer satisfaction + social welfare+ co. profit. It is
social oriented.
• It is broad, dynamic and socially significant & universally accepted
• It is like marketing concept. It finds out & satisfies d needs, wants & interest
of the target market. It also fights competition and make profits.
• Societal concept gives importance to social responsibilities. It can make it
product environmentally friendly
• All d marketing policy and practices of the co. must either maintain or
improve d well being of the customer & society. Is a new marketing
philosophy
• Concept improves d image of the co. among customer, shareholders, d
financial community & d general public.

7. Role OF MARKETING MANAGER IN
CHANGING MARKETING ENVIRONMENT
• To develop marketing policies
• To have knowledge of the marketing environment
• To follow government rules and regulations
• To use latest technology
• To protect the environment
• To give customer delight
• To do customer relationship management (CRM)
• To do event marketing
• To manage 4 p’s effectively
• To give proper after sale services