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Marketing management unit i - concept
1. Prof. U. Ramesh Babu
Asst. Prof. of MBA
Annai College of Arts & Science
Kovilacheri, Kumbakonam
2. Market – Latin Word – Mercatus – To trade,
Merchandise, Wares & etc.,
Market is meeting place of buyer and seller.
3. According to Pyle, “Market includes both
place and region in which buyers and sellers
are in free competition with one another.
4. It enables the sellers to sell
It enables the buyers to buy
It makes available goods and services (which are the
outcome of innovation) that raise the standard of
living of the people.
It gives the buyers access to goods that are made in
different parts of the country and in different parts of
the world.
It generates lot of employment opportunities.
It enables many like brokers, commission agents and
coolies to earn their livelihood.
It generates income and thereby promotes trade and
commerce.
It is essential for the economic development of any
nation
5. Geographic area
◦ Local Market
◦ National Market
◦ International Market
Economic
◦ Perfect market
◦ Monopolistic market
◦ Monopoly market
◦ Oligopoly market
Volume of business
◦ Wholesale market
◦ Retail market
Time
◦ Very short period market
◦ Short period market
◦ Long period market
Importance
◦ Primary market
◦ Secondary market
◦ Terminal market
Nature of goods
◦ Commodity Market
Agricultural goods market
Consumer goods market
Industrial goods market
Bullion market
◦ Capital Market
Money market
Foreign exchange market
Stock market
Regulation
◦ Regulated markets
◦ Unregulated market
Nature of transactions
◦ Spot market
◦ Forward market
6. According to the American Marketing
Association, “ Marketing is concerned with
the people and the activities involved in the
flow of goods and services from the producer
to the consumer.
7. Modern marketing is consumer oriented
Modern marketing precedes and succeeds
production
Modern marketing starts and ends with the
buyer
Modern marketing guides business
10. “Marketing management is the art of getting
things done from the marketing staff by the
marketing manager”.
When the techniques of management are
applied in the field of marketing, it will come
to be known as marketing management.