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Define marketing? Explain its nature / features.

Explain the importance of marketing in modern business.

Explain the scope/functions of marketing.

Explain in brief various concepts of marketing/Explain the selling concept, marketing concept and societal concept of marketing.

Define marketing research? Explain its features and importance to marketing managers.What is marketing information system (MIS)? Explain its features and importance.Write short notes on :

Societal Concept of MarketingMarketing Concept Market Opportunity Analysis.Relationship marketing.

Distinguish between :Marketing and sellingMarketing Research and MIS.

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Definition of MarketingAccording to William Stanton, “Marketing is a

total system of business activities designed to plan, price, promote & distribute want satisfying products to target markets in order to achieve organisational objectives.”

According to Philip Kotler, “marketing is a human activity directed at satisfying needs and wants through exchange process.”

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Scope of MarketingMarketing ResearchProduct Planning & DevelopmentPricingAdvertising & PublicitySales PromotionPackagingBranding & LabellingAfter Sales ServiceTest Marketing

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Features Of MarketingRegular & Continuous ActivitySatisfaction of Human WantsRelates to Goods and ServicesTransfer of OwnershipCreates Different UtilitiesImportance of 4PsEvolutionary ConceptWide in Scope

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Importance/ Benefits Of MarketingSatisfaction of human needs & wantsProfits & market reputationFacilitates specialisation division of labourWidens the marketImproves standard of livingBring economic growthCreates new norms of social economic

behaviourProvides channels of communication to

business firmsFacilitates price controlDevelops social significance at.

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Concept of MarketingThe exchange conceptThe production conceptThe Product conceptThe Selling conceptThe marketing conceptThe Societal conceptThe relationship marketing concept

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SELLING v/s MARKETINGMeaningAimOrientationBasisConsumers PlaceRole of ProfitImportanceTarget

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