MARKETING AND SALES

Marketing is the process of identifying the need of the target

consumers and provide them products with exchange of some value.
Marketers are there to produce the goods and services and consumers are
there to consume the product providing some money in return.

MARKETING MANAGEMENT
Is the art and science of choosing target markets and getting, keeping
and growing customers through creating, delivering and
communicating superior customer value.

NECESSITY OF MARKETING MANAGEMENT

It promotes product awareness to public.
Helps to boost the product sales
It builds public reputation

MARKETING FUNCTIONS
A. Buying-
 It is an important function of marketing.
 This function includes what to buy, what quality ,how much, from
whom, when and at and at what price.
 It also comes up with the alternative products.
 Then based on their uses and benefits they purchase the one that
they think is the best.

B. Selling-
 it is the basic reason for the operation of business concerned that
more sales must be obtained at less cost.
 This function is expensive as it involves many activities like
creating demand, finding buyer, negotiating price and transferring
the title.

C. Financing-
 it involves use of capital to meet financial requirements.
 No person can think of conducting business without finance.
  Product distributing and consuming requires large funds and
banks and other financial institutions provides money for the
production and marketing of products.

D. Storage and Warehousing-

 it involves the utilization of substantial manpower and capital
resources.
 Storage products must be stored ad protected until they are
needed.
 warehouses are required to store the goods for adjustment of
supply to demand.
 this function is especially important for products like fruits and
vegetables.

E. Transportation-
 Goods are moved from places where they are produced to those
they are needed for consumption.
 It may include rail road, ship, airplane, truck etc.

F. Market Information-
 As the demand of various products in National and International
level has increased , the important of information needed helps
the business man to secure information regarding quality of
goods, method of packing, prices of goods and procedure of
distribution.
 Market information is given by television, net and phone.
 it enables the producers to carry out selling policies.

G. Risk Taking-
 Loss due to some unforeseen circumstances in future.
 The goods may be lost or damaged while transporting or
destroyed by flood, fire, storm, sea perils or change in
temperature.
 The businessmen think of minimizing the risks and shifting them
to other's shoulders like Insurance companies provide coverage
to protect producers and marketers from loses due to fire, theft or
natural disasters.
H. Grading and Standardizing-
 Standardization means establishment of certain standards or
specifications which may involve quantity (weight or size) or it
may involve quality(colour, shape, appearance, material, taste,
sweetness etc)
 Grading means classification of standardized products into
certain well defined classes or groups. For ex. if you are
purchasing US No.1 potatoes ,you know you are buying the best
potatoes in the market