The document discusses the key elements of a marketing system. It contrasts the marketing concept with the selling concept. The marketing concept focuses on determining customer needs and wants, then developing products and services to satisfy those needs. In contrast, the selling concept focuses on promoting and selling products with the goal of maximizing profits. The elements of a marketing system include product planning and development, pricing, promotion, and distribution to reach customers and satisfy existing human needs and wants. The goal is to efficiently utilize resources to satisfy customer needs in a profitable and socially responsible manner.

1. MARKETING SYSTEM: ITS NATURE &
ELEMENTS

2. FOREWORD
 Marketing is a dynamic system and the most
up-to-date activity, it being present in
everywhere we go. It is always centered on
the customer who is the concern of anybody
under marketing management responsibility.
 The prime goal of a marketing system is the
efficient utilization of these resources that
nature has made available to man order to
satisfy man’s unlimited needs.

3.  In this context, the marketing manager thus
outlines strategies to generate revenues by
creating products and services that are
wanted, needed and that will satisfy needs at
a profit and in a socially responsible manner.
He should consider marketing as a social
service that enhances the quality of human
life and society, making it not only profit-
oriented but also marketing development
oriented.

4. MARKETING CONCEPT VS SELLING CONCEPT
 These two concepts are not new
organization within marketing. They are
known to be marketing management
philosophies. A businessman is given these
two concepts as his options. He has to
decide which among the two shall be
chosen. But of course since the context of
the course is marketing -- it is hereby
suggested and recommended that marketing
concept will bring better results than the

5. MARKETING CONCEPT
 is a management orientation which holds that
the key task of the organization is to
determine the needs and wants of the target
markets and to adapt the organization to
delivering the desired satisfactions more
effectively and efficiently than its competitors.
It focuses on the satisfaction of buyer’s
needs.

6. SELLING CONCEPT IS
 a management orientation which assumes
that consumers will either buy or not buy
enough of the organization’s products unless
the organization makes a substantial effort to
stimulate their interest in its products. It
focuses on the seller’s concern of profit
maximization.

7. MARKETING CONCEPT SELLING CONCEPT
 Focused on the buyer’s
needs
 Focused on the seller
needs
 Buyer’s interest is
satisfaction of needs
 Seller’s concerns are maximization
of profits & social services to
enhance quality if human life and
society

8. MARKETING CONCEPT SELLING CONCEPT
1. Determination of
Customers needs & wants
2. Product planning &
development
 Product planning &
development
 Promotional programs or
personal selling functions in
order to sell the products

9. MARKETING CONCEPT SELLING CONCEPT
Discover Market need
Product Planning &
Development
Distribution of
Product/service
GUARANTEED SALES
VOLUME & PROFITS AT
CUSTOMER SATISFACTON
Product Planning & Development
Promotional methods & selling
Distribution of Product & services
UNGUARANTTED SALES VOLUME
& PROFIT, UNGUARANTEED
CUSTORMER SATISFACTON
Research
Production

10. ELEMENTS OF MARKETING
 MARKETING IS A SYSTEM
 - it requires planning to determine the products
or services that shall be produced. It also
involves the organization of basic resources
involving money or budget and machineries
which will be utilized for creating the goods or
services. Finally, the direction and control of
these elements make it a system in itself for
purposes of evaluating whether products
planned were successful or failures thus
requiring further development

11.  PRODUCT/SERVICE PLANNING AND DEVELOPMENT, PRICING,
PROMOTION AND PLACE OF DISTRIBUTION (P’S OF MARKETING)
 - As a marketing manager, the first task of any service and profit-
oriented entrepreneur is the determination of the right product or
service, to produce or sell evaluation of whether existing products
or services require modification. This function is known as
product planning and development. Of course, as a
businessman, profit maximization in the long-run is aimed, so that
reasonable price determination is necessary. These products
can be sold best with the help of promotional programs which
include administration of personal selling, advertising, publicity,
pub1ic relations and sales promotions. Finally, marketing
objective can only be achieved if these products and services will
reach the hands of the consumers. Development of strategic
places of distribution or selling outlets should be planned, so
that consumers can avail of the goods or services when their
needs arise.

12.  PRESENCE OF CURRENT AND POTENTIAL
MARKET
 - market consists of the buyers or users of
the products or services. We undertake
product planning and development for
fulfilling demand of current buyers and
thereby perceiving or forecasting needs of a
future market which can be by the features or
benefits derived from the products or
services.

13.  Satisfaction of Existing Human Needs and
Wants
 - it is said, based on economic principle, that
human needs and wants are insatiable. Within
this context, it can be seen that buyers
continuously demand for new or developed
goods for their satisfaction. It is out of these
needs that new products should be planned and
developed. And out of these needs - satisfaction
we can be assured of sales, as human
requirements are fulfilled.