Amity School of Distance LearningMarketing ManagementAssignment AQ 1.Define marketing. Distinguish between Selling and M a r k e t i n g . W h a t a r e f o u r components of marketing explain? Ans.

.The term marketing has been defined as a social a n d m a n a g e r i a l p r o c e s s b y which individuals and groups acquire what they desire through exchanging andcreating products and values with others. It starts with factory, focuses on companys existing products and calls forheavy selling and promotion to obtain profitable sales. Selling is inside- outperspective. Marketing is outside - in perspective. Marketing of any commodity or productstarts with well -def ined target group having a desire for that commodity orproduct, co-ordinates all the marketing activities affecting customers, andm a k e s p r o f i t s b y e n s u r i n g c u s t o m e r s a t i s f a c t i o n . C o m p a n i e s p r o d u c e w h a t consumer want and thus satisfying consumers and making profits.M a r k e t i n g m i x i s o n e o f t h e m a j o r c o n c e p t s i n m o d e r n m a r k e t i n g . F o u r components of marketing mix are as under: 1 ) P R O D U C T : Product means any goods o r s e r v i c e s o r a c o m b i n a t i o n o f b o t h w h i c h t h e company offers to market/ target market. While defining product as a featureof marketing mix company definesa ) P r o d u c t Varietyb ) Q u a l i t y c ) D e s i g n d ) F e a t u r e s e ) B r a n d N a m e f ) P a c k a g i n g g ) S i z e s h ) S e r v i c e s i ) W a r r a n t y j ) R e t u r n s e t c