Evolution of marketing

                 Evolution of marketing


  1. Determine what is the marketing?
  2. Self-sufficiency: each sees to own needs. Therefore each has to spend time doing other tasks.
  3. Decentralized Exchange: each person sees the other as potential “buyer” who makes up market.
  4. Centralized Exchange: a new person called a merchant appears and sets up a central area called a market place.

Reduces number of transactions required and increases efficiency. As the number of people and transaction in a society increase, the number of merchants and marketplace also increase.

Ex: DARA-market has appeared as the number of student increase. The market can grow up around a product, a service or anything else of value.

Ex: A labor market consist of people who are willing to offer their work in return for wages or products. The market is the set of actual and potential buyer of products.

  1. Definitions of market

Market is the set of actual and potential buyer of products.

  1. Definition of market

  • Marketing is the management process that identifies, anticipates and satisfies customer requirement profitably.
  • Marketing means human activity that take place in relation markets.
  • Marketing means working with markets to allow the exchange of goods or service with the purpose of satisfying our needs or wants.
  • Marketing the process of planning and executing the concept, pricing, promotions, distributions, of ideas goods and service to create exchanges that individual and organizational objectives.
  • Marketing the process of identifying needs and satisfying theses needs and wants with suitable goods or services, through product design, distribution and promotion and either as a business or non-profit making organization.

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