SECTION 2 : MARKETING

1/- MARKETING

Marketing is the process by which sellers find buyers and by which goods and services move from producers to consumers. There are many marketing activities. For example, advertising and selling are part of the marketing process. Other marketing activities include financing by banks and deliveries to shops and homes. Marketing is so important to industry that about half the cost of goods and services results from the marketing process.

Consumers in most countries can choose from a huge variety of products and services. Therefore, a company must have an effective marketing programme to make its products and services attractive to customers. Every growing business engages in five major marketing activities: (1) market research, (2) product development, (3) distribution, (4) pricing, and (5) promotion.

2/- MARKET RESEARCH

Market research is the study of the probable users of a product or service. Such potential customers are called a market. It also examines competitive products and the way in which they are sold and distributed. There are many sources of market information. For example, government statistics about population and income indicate the size of a market and its purchasing power.