Characteristics of marketing
Marketing is not a single activity. It is rather a coordination of several inter-related activities. The interaction between different activities gives a unique character to marketing. Marketing is a managerial process in so far as it involves the functions of planning and control. Marketing is also a social process as it is concerned with the satisfaction of human needs and this is one of the most important Characteristics of Marketing. Advertising is customer oriented-
Marketing exists to identify and satisfy the wants of present and potential consumers. Customer is the focus of all marketing activities therefore advertisements should be created to appeal to a potential customer. It ought to impact on a customer positively and leave an impression. Advertising is creative Marketing creates time, pace and possession utilities. Time utility is created by preserving goods for use in the future. Place utility is created by carrying goods or ferrying goods to place where they are needed most.
Marketing creates possession utility by transferring products and services from producer to customer. Exchange process between buyers and sellers is the essential element in marketing. Marketing is goal-oriented Of the many important characteristics of marketing; one very important aspect is this. Marketers seek to achieve
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Marketing is required in business as well as in social and other organizations. In other organizations, marketing is necessary for spreading socially useful ideas and programs family planning, adult education, community harmony, national integration, environmental etc. This form of marketing is called social marketing. So these are important characteristics of marketing without which marketing can’t be successful. The traditional marketing concept has lost value and the characteristics of marketing revolve around the modern approach of marketing.