Marketing- How do you define this?? I found out a shortest way " Meeting needs profitably" . Is that fine? Sounds good know..

Ok. Its our job to handle the customer profitably. Yes the word profit is most important thing in the world of marketing. Without profit the firm could not meet up with the needs of itself and its customers.

So there are three different concepts in marketing:

1. Needs
2. Wants
3. Demand

Seems to be similar terms?

Yes they appeal to, but the major difference is there between them

Needs Is the basic of the human requirements. Such as you and I need "food" ok...
But wants is a bit specific. that I Want a Pizza.. But You may want a Burger for dinner..
So Demand comes last it means that a want with an ability to pay So I want to travel to space. But I dont have any such billion dollars to meet my need. so its not a demand. But If I need a coke right noe with money in my pocket its a demand . so here I have a choice between COke and Pepsi. Right.. getting a bit clear..

So there are two things to market:

• Product
• Service
  
  

Needs and wants of a customer can be satisfied through Products or services. Major differrence is

Products----Tangible (eg: Cloths, car ect..)
Services-----Intangible ( travel, telecom ect..)

"Satisfying the customer"

This is what all the largest firms to a penny shopkeeper strives to meet

Until the customer is satisfied you are not creating value to your firm. You can meet your organization's needs only through satisfying your customer.

So let us see the difference between selling and Marketing in the next post