A market consists of the forces of supply (sellers) or demand (buyers) facilitating an exchange process between sellers and buyers. A simple meaning of marketing is selling of goods/services.
Marketing is a comprehensive term and it includes a set of on going activities necessary to create and stimulate consumer demand and to direct the flow of goods and services from producer (one who makes) to consumer (one who buys) in the process of distribution.
There are 5 concepts that companies use to conduct their marketing campaign.
- The production concept.
- The product concept.
- The selling concept.
- The marketing concept.
- The societal marketing concept.