Marketing has the very wide scope in the all universe, All types of organizations i.e small, medium, large etc are used the concept of marketing for the success of its business. There are some characteristics are given below, which are useful for explaining the all marketing.
Characteristics of modern marketing or we can say it 6 characteristics of marketing
- A MANAGERIAL FUNCTION: Marketing involves and analyzing various market opportunities, planning, implementing plans, to minimize the product cost. So marketing is also working as a managerial activity for achieving business objectives.
- FOCUS ON CUSTOMERS: Now marketing concept is moving to customer concept. Customer stand in the center. Marketing has the goal is to build a strong relationship with customers company has to listen its customers.
- SATISFYING THE CUSTOMERS: Marketing is competition and customer orientation and it focused on the customer satisfaction. Marketing starts with the needs of the customers and ends with the satisfaction of these needs of customers. If customers are not satisfying they shift to another brand.
- MORE PROFIT FOR BUSINESS: Marketing is work for customers. When customers are aware of the product they are buying or purchase that product, which is very helpful for any business to increase its sales and earned more and more profit.
- A MARKETING STRATEGY BASED ON NEEDS: NEEDS are the basic human requirements like food, cloth, shelter, security etc. Good market companies are also getting the knowledge about their customer needs, wants and demands.
- FOCUS ON TECHNOLOGY: A company has to change its technology and give the modern and new technology to marketing its customers. Attractive and new marketing is helpful for attracting the new customers.
- APPLICABLE TO ALL TYPE ORGANISATION: Marketing is universally applicable to all kind of businesses i.e to small, medium and large organizations. It is applicable on the national, international, multinational markets. It is practiced by everyone.
