MARKETS AND MARKETING

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MARKETS AND MARKETING

Businesses make money by selling their goods and services in markets.Market is the places where buyers and sellers meet and exchange their goods.But it is also possible now to sell products and services without meeting each other like trading online,newspapers etc.
some examples of markets are,

• Consumer goods market where products such as food ,cosmetics and magazines are sold. 
• Market for services include services for individuals,such as hairdressing, or business services such as services, suck as auditing.
• The housing markets are there people buy, sell and let property.
• Commodity markets are where raw materials such as oil,wheat and coffee are traded.
• Financial markets are where currencies and financial products are traded.

Marketing involves a range of activities that helps a business sell its products.

MARKETING

Marketing involves a range of activities that help a business sell their products.However, marketing is not just about selling,it involves:

• Identifying the needs and wants of consumers.
• Designing products that meet these needs.
• Understanding the threat posed by competitors .
• Telling customers about products.
• Charging the right price.
• Persuading customers to buy products.
• Making products available in convenient locations.

According to the charted institute of marketing,'Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably'.

 

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