Marketing is a discipline that combines several principles from other disciplines. It consists of the set of activities that are involved with the flow of services and goods from production to consumption. The principles of marketing can be described as composite and complex. Marketing, aside from being as a set of activities, also refers to the processes and institutions of communicating, exchanging and delivering goods and services to customers, partners, clients and society at a given value. Business Study Notes is platforms for all those people, who are looking for business notes and want to get ready for their exams.
Principles of Marketing – The Best Step to Follow To Succeed
Among the many principles of marketing, a good start in learning marketing is the orientations in marketing. There are four types of orientation. First is the production type in which the focus is more on the production of large volumes of products, controlling the costs and ensuring production efficiency. The next type is the product orientation. Here, quality improvement is more of the focus. The assumption in this orientation is that the consumers are willing to pay more for a better quality version of a product. The next orientation is the selling orientation in which the focus is on aggressive promotion and sales. The sellers come first and the products are not a priority. The assumption is that as long as the product is cheap, a customer will buy it whether he needs it or not. The last orientation is marketing. This is the most advanced type. Here, the focus is the customers. Their needs and wants are considered before rendering a service or producing a product.
Principles of Marketing – The Core
If you look into the principles of marketing, one can see how diverse but simple, if studied enough, the concepts are. Some may think of marketing as a management process wherein the customers’ wants and needs are considered. Some may think of marketing as an advertising means. Still, one needs to realize that production, selling, buying and consuming processes are vital and the core of marketing.