Creativewriting: The full mean of marketing

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INTRODUCTION

Hello steemians, how are you all and welcome to my blog.I am about to dropping another topic which is titled by me which is marketing.

MARKETING

Marketing can be defined by me as a process of creating, developing, promoting and deliverting superior values to client and other state holders for their mutual benefit.
According to America marketing association, marketing is the activity set of institution and process for creating communicating, delivery and exchanging offerings that have values for costumer, clients, partner and society at large.

MARKETING TERMS

• Needs: this is a state of feel deprivation some basic satipaction in a person. Needs are basic human requirement and include air,water, food, clothing and shelter. Again humans also express.strong need for recreation education, entertainment and seif activalization. Marketing does not create needs but provide the means of satisfy them.
• Want: this is the expression of a person's needs as shaped by culture, individuals personality and preferences.
  A need becomes a want when it is directed to specific product/service that might satisfy the need.
  Example: A Yoruba man need food but want Amalia, while an akwa ibon man need food but want.Aparn so up and garri.
• Demand: this is want for a specific product backed by ability to pay.
• Product: a product is anything offered to a market to satisfy need or want.
• Exchange: the act of obtaining a desired object from some one to offering something in return.
• Transaction: a transaction is an agreement but when two parties (buyer and seller) to exchange a goods or service for payment.
  Market: a set of all actual and potential buyers of a product or service.
  Marketing management: the art and science of choosing target markets and building profitable relationship with them.

IMPORTANCE OF MARKETING IN AN ECONOMY

• Marketing bggles the gap between the producer and consumer.
  *It also reduces wastage though marketing research this indirectly in creating production.
• Marketing converts people need into profitable company opportunities, through the movement of industrial goods to rural consumers by promotion and consumer education.
• Marketing is a creative employer because all the number out activities performed there in are possible employment avenues.
• Marketing improves the standard of living by making goods produced in one area available in another area.
• Marketing creats markets for goods and services.
  It ensures consumer satisfaction.

FUNCTION OF MARKETING

• Risk bearing: this involves anticipating business risk and taking appropriate measures to reduce their impact by taking the necessary insurance cover.
• Financing: this query the production of funds through out the period of production of the point of selling through loans and credit facilities.
• Storage/Ware housing: this makes it possible for goods to be produced ahead of demand so that they can be available when needed.
• Buying/ selling/ exchange: this covers purchase of raw materials and goods from so many sources and transfer of ownership of such goods to the consumer at night quality.
• Grading and standardizing: it involves ensuring that the goods comformed to shape, colour, taste,.
• Marketing information research: this involves collocation of information from many sources and dissemination of producers and distributors.
• Transportation: this course movement of goods from where they are produced to point where the are required.
  Priang: marketing assist in infixing price at a level reasonable enough to give profit to the company.

HISTORY OF MARKETING IN NIGERIA

• Pre-colonial: marketing has been traced to have been excistence in the pre-colonial before colonization, what is known as nigeria today existed in small villages practicing different trades based on their natural specializations. Those who lived along the cosral area were mainly fisher men and hunter. Other people with restavable land engaged in farming ,trap making and hunting of will a animals yet others engaged in caming, cattle rearing, metal works and blacksmiths. Each of the above group of people only produced what they and their house hold could use. in short, their occupations were carried on a subsitence level.
  As time went on,they soon specialize In their different fields of endeavour and this specialization come with the development of certain basic infastructure like iron,metchetes road and canoes that made it possible for person in one community to get in touch with people in other communities with their villages products sometimes, a clan of two or three villages established a market place at a central and convenient location to trade by barter as there was no definite medium of exchange. This recognized market place made local exchange possible.

1000-1860AD

Between 1000-1860ad considered political, social economic and powerful dynasties spring up and they had commercial link with communities and territories in the past, central,north Africa and beyond. We can talk about the Songhai empire, the kenem borne empire,the Benin kingdom, the Calabar kingdom, and some cities like Timbuktu and Kano.
Commercial activities also involved trade with the area to the north, the countries of trade in West Africa and later Europeans traders particularly the Portuguese Spanish, French and British traders. Those dynasties were leaded by powerful men, community leaders, tribal kings, elders and consellors who were incensed merchants for example the obong of celeba, the oba of Benin through their accredited Representatives, had Monopoly in trade with Europeans in their area of control. Commodities of trade during this period involves shaves,nut, leather works, paper work or art, traditional medicines and other items. At this time daborate trading rules and noms and system of middle man ship had evolued with the use of couories and other forms of money as mechium of exchange.

COLONIA ERA

The colonial government under took the construction and promotion of major transports.
Encourage demostic agents to open up and expand the market economy renationalize the currency and promoted the use of money and organizal both forced and voluntary wage labours for state and private purpose. Production for export and sale of imported Europeans commodities increased opportunities in commerce, craft and food stuff production. As a result,new financial institutions such as banking, insurance emeral greeting need for specialization marketing. Because of the overbearing attitude of the company towards Nigeria in 4s area of operation and its obsession with monopolizing trades in the area.

INDEPENDENCE AGE TILL DATE

After Independence, Nigeria was indeed a termite trading ground for British and other European companies. Nigeria was not only a source of raw materials to feed the manufacturing plants abroad but also a read market for products from European farms. Some of the companies that operated in Nigeria and still are on today are UACG.BOLWANT.JOHN HOTT,PZ,UTC,CFAO,AG leventies,scoa and later nigeria breweries limited. These establishments led to the emergence of middle men and agents, introduction of advertising, selling in Nigeria as an organizational function as well as part. time and full time traders, although on a scaler Nigeria opened her market to other companies at this time, competition started for the first time. With competition, marketing as 3 profession started to be well noticed in nigeria. In 1976 the university of Nigeria (enough campus) became the first nigeria university to be offering degree programme in marketing.

GOALS OF MARKETING

Marketing affects so many people in so many ways the following are the goals of marketing system.

• Maximize consumption: this concept that marketing job should stimulate consumption and also create maximum production employment and wealth. The assumption is that the more people consume the products The happier they are.
• Maximize consumber satisfaction: this concept relates to maximize consumer satisfaction and not consumption that is satisfaction people get from consuming certain goods.
• Maximize choice: the goals of marketing system should be maximize product variability and consumer choice. The system would enable the consumer to find these goods that exactly satisfy their tastes costumer would be able to maximize that life styles and therefore their satisfactions.
• Maximize life qauantity: this concept views that the goal of marketing system should be to improve the quality of life, quality of the physical environment and the quality of the cultural environment.
• Maximize profit: marketing is successful only when it is capable of maximizing profitable sales and achieving a long run customer satisfaction.

CONCEPT UNDER WHICH ORGANIZATION CONDUCT MARKETING ACTIVITIES

• Production concept: this is the business philosophy which advocates mass production. It holds that consumer will buy product that are widely available and cheap. Therefore the major task of management is to concentrate their effort on production and distribution efficiency.
• Product concept: this is the management oxientation that assumes that consumers will favour those products that offer the most quality, performance or innovative features. This management effort is geared towards the production of quality products.
• Selling concepts: this is management orientation that assumes that consumers will buy products only if the organization will buy products only if the organization makes a substantial effort to stimulate their interest in its product the task promote or sell those products.
• Marketing concepts: this concepts recognizes the veto power of the consumer in the market place. It therefore advocates that the business organization takes at direction at the market place by seeking to identify and satisfy needs of the consumer. By doing so the attachment of the long run goals of the company is enhanced.
• Societal marketing concept: this is management orientation that holds that while organizations endeavor to satisfy needs of the consuming or souety's well bing . The use of this concept call's for management to always balance three considerations. Company's profit, consumer want satisfaction and the public interest. This, the company in its qualit for profit should not make product that damage the long-run intier society.

IMPLEMENTATION OF THE MARKETING CONCEPT

The implementation of the marketing concept requires attention to three basic elements of the marketing concept

• The consumer orientation
• Integrated organizational efforts
• Profit orientation
• The consumer orientation:market oriented organization try to create products and services with the consumers needs in mind. This is done by carefully examing customers need from the customer point of view and not from what the company think is the need of the customer
• Integrated organizational effort: this is a strategy that aims at unifying a company's departments work to serve the customer interest. In this case, marketers will assume the role of making others think of and serve customers.
• Profit orientation: the ultimate purpose of the marketing concept is to help organizations achieve their objectives,an outstanding one being profit. This, the key to profit making is doing the job well through customer satisfaction.

conclusion

Hello friends thank you for going through and reading on my post,I have drop another topic here which is the meaning of marketing and their profit.