→ Marketing is one of the business functions that all activities that take place in relation to markets for the purpose of satisfying human needs and wants.

→ Marketing is indeed an ancient art it has been practiced in one form or the other since the days of Adam and Eve. The traditional objective of marketing had been to make the goods available at places where they are needed. This idea was later on changed by shifting emphasis from “exchange” to “satisfaction of human wants”.

→ Marketing includes those business activities which are involved in the flow of goods and services from production and consumption.

→ The objectives of Marketing are intelligent and capable application of modem marketing policies, by studying the problems relating to marketing further information concerning the market problems and to take appropriate actions in the course of action.

→ Functions of marketing are classified into three types – Function of Exchange, Functions of Physical supply and Facilitating functions.

→ Marketing Mix means a marketing programme that is offered by a firm to its target. Consumers to earn profits through satisfaction of their wants.

→ Such a marketing programme is a mixture of four ingredients namely product mix, price mix, place (Distribution) mix and promotion mix.

→ Marketing Mix Matrix:

• Traditional Marketing Mix
• Modem Marketing Mix

→ Carefully positioning the product in each category will generate a better response from the target market.

Mention any two man made risks in Marketing

Man made risk in marketing: Man made threats including market crashes, cybercrime, and interstate conflicts oil price shock.

Mention any two natural risks in Marketing

Natural risks in marketing: Drought, earthquakes hurricanes. They can result in property damage or business closure during and after natural disasters.

To organise a Model Marketing Practices in your class with some kind of goods and services

Service marketing is a specialised branch of marketing. Business to Consumer (B2C) and Business to Business (B2B) telecommunication services, financial services in health care services and professional services.

To arrange and invite a marketing practitioner and good speakers for guest lectures about success and failures of market

Inefficient distribution of goods and services in the free market. Steady state disequilibrium in which quantity supplied does not equal to demanded. Market failure is the pubilc good problem. Market failure are often associated with time in consistent preferences, non-competitive markets principle, agent problem or externalities.

A successful market in have the Right vendors, Location, the Right mix, Public spaces, Right economics, Value and management. Quality, Appearance, cleanliness, innovation, locality and the attractiveness through display, and service is good makes people happy.

Samacheer Kalvi 12th Commerce Notes