MARKETING MANAGEMENT AND ITS EVOLUTION

—Marketing is indeed old ancient art. The marketing activity knowingly or without knowingly is being in practice by the all human being, first marketing transaction can be perhaps attributed to Adam and Eve. Its emergence as a management discipline is of relatively recent origin. Marketing concept within this relatively short period, it has gained a great deal of importance.
—In fact today marketing is regarded as most important of all management functions of business. The evolution of marketing activities had different challenges as per the time and need of the market.
—Hence I welcome to the wonderful world of marketing!

Stages and Evolution of Marketing / Historical background

The term “market” originates from the Latin noun “Marcatus” which means a ‘a place where business is conducted’ In the definition of Phillip Kotler the term market means “an arena for potential exchange”
1.Marketing at barter stage.
2.Marketing at money exchange stage. (price mechanism)
3.Marketing at Industrial Revolution. (logistic, communication, mass production, low price distribution system, surplus money etc.,)
4.Marketing at stage of competition. (marketing mix)
Marketing Concept Definitions of Marketing

—Marketing is performance of business activities that direct the flow of goods and services from the producer to consumer.
—Marketing is the economic process by means of which goods and services are exchanged between maker and user and their values determined in terms of money price.
—Marketing activities are concerned with the demand-stimulating and demand-fulfilling efforts of the enterprise.
—Marketing starts with the identification of a specific need of the consumer & ends with the satisfaction of that need. The consumer is found both at the beginning & the end of the marketing process.

—The Chartered Institute of Marketing defines Marketing as - “Marketing is the management process for identifying, anticipating & satisfying customer requirements profitably.”
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Peter Drucker - There will always, one can assume, be need for some selling. But the aim of marketing is to make selling superfluous. The aim is to know and understand the customers well that the product or service fits him and sells it-self. Ideally, marketing should result in a customer who is ready to buy. All that should be needed then is to make the product or service available.

As a matter of fact Marketing is a utility basket for the customer, see the chart for better understanding about what marketing is!






—Nonetheless marketing is nothing but creating demand of products by using marketing tools and converting desires into want as to have impulse purchases situation for a particular product or services. The evolution and different perception of marketing has given following concept, let us study the same.

Distinct Concept of Marketing

—The evolution stage and thereafter terminology of marketing concept in different scenario has put into practice, now till this time we have Five Marketing Concept, they are;

 The evolution stage and thereafter terminology of marketing concept in different scenario has put into practice, now till this time we have Five Marketing Concept, they are;

1. The Exchange Concept. 

It is above the barter system it is not only mere exchange of products but it involves aspects, like concern for the consumer. generation of value satisfaction, create selling and integrated action for customer service

2. The Production Concept. 

In this concept marketing is mere appendage to production. This concept holds that consumer want value product at low price the mass production takes care of all marketing

— 3. The Product Concept.

In production concept it win the market with profit and high volume of production, it also achieve the same results with product excellence-improved product, add-on new features, usage of technology etc.,

4. The Sales Concept.

In this concept company push its products and promote its products by using tools like high-power personal selling, public-relation, heavy discount and other normal tools to push and promote the product, it is highly sales oriented concept.
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— 5. The Marketing Concept. 

In sales concept the need & interest of seller is more important but in marketing concept the need and interest of buyer is more important, consumer satisfaction & growth of business is foundation. In marketing, beginning and ending of business is the always customer and after-sales-service is very significant tool in building marketing activity.

—In precise the concept of marketing can be zipped into five functions. 

1.Contractual: Efforts search of buyer and seller.
2.Merchandizing: Matching the products to customers needs and desires (the market requirement)
3.Pricing: Determining of optimum price.
4.Promotion: Persuading the buyers to favour the firm and its products.
5.Physical Distribution: The transport, warehousing and inventory control.

Scope of Marketing Management

—The scope of marketing is very wide and multiple discipline penetration for better results and functioning of the organization. It may be analyzed in term of Marketing Performance through various functions. The marketing function is inherent in every marketing process and marketing function is to be performed on the basis of various utilities. The major functions of Marketing are;
a)Function of exchange.
b)Function of physical distribution.
c)Function of facilities.

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Functions of Marketing Management

Objectives of  Marketing Management

1. Sales and market analysis.

2. Determination of market goals.

3. Sales forecasting and marketing budgets.

4. Formulation of marketing strategies, policies and procedures.

5. Evolving an appropriate marketing-mix or programme.

6. Organizing of all marketing activities and instruments.

7. Assembling of necessary resources, viz marketing staff, finance, physical facilities etc., to execute marketing campaign.

8. Active participation in product planning and development to establish best correlation between product attribute and customer demand.

9. Distribution Channels and physical distribution.

10. Effective communication, proper control and co-ordination of all marketing functions.

11. Post sales services and Customer relationship.
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