Understand the difference between marketing ND macro-marketing: There are micro and macro views of marketing. Marketing applies to both profit and nonprofit organizations; it is more than just persuading customers. Marketing begins with customer needs; it doesn’t do it alone which should provide direction for production, accounting, and financial activities and try to coordinate them. Marketing also involves exchanges and focus on build a relationship with the customer. On the other hand, Macro-marketing is emphasis on whole social system to help match the supply and demand in the society.
The universal function of marketing are buying, selling, transporting, storing, standardization ; grading, financing, risk taking, and marketing Information. Producers and consumers perform marketing function. 4. Producers, consumers, and marking specialists perform functions. These specialists are collaborators which are firms that facilitate or provide one or more of the marketing functions other than buying or selling. New specialist develops to fill market need. All of functions can be shifted and shared. 5. The marketing concept means that an organization aims all its efforts at satisfying its customers at a profit.
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Customer satisfaction guides the whole system. 6. Customer value is the difference between: a) the benefits a consumer perceives in a market offering, and b) the cost of obtaining those benefits. The marketing concept and customer value: take customer’s point of view, customer may not dwell on value, where does competition fit, customer builds relationship. (Cost and benefit) 7. Social responsibility concerns a firms obligation to Improve Its positive effects on society and reduce Its negative effects. Marketing ethics are moral standards that guide marketing decisions and actions.