Type: Economics
Pages: 3 | Words: 891
Reading Time: 4 Minutes

Marketing is simple and only requires knowledge for one to make a go ahead or to make money.Marketing also revolves around the following concepts;Needs, wants,demand and product.


The study of marketing begins with the understanding tha human needs and wants.Aneed is a state felt depriviation of some basic satisfaction example food,shelter,clothing,belonging self esteem and self expression.

Needs are universal and they are not created by society or by marketers.They exist in their very texture of human biology and conditions.


These are desires for specific satisfyers of needs while peoples needs are fewer their wants are many.Wants are continously shaped by social forces and institutions such as   family religion education.etc

As a society revolves the wants of its members also expands. Producers therefore try to offer more wants satisfying goods and services.


They are desires for specific needs satisfyers backed by an ability nad willingness to pay for them.Want become demands when supported by the purchasing power.Usually money marketers try to influence demand by making the products attractive,affordable and easily available.


A product is anything offered to the market for attention,acquisition,use or cosumption and that can satisfy a need or wants example physical products,persons,places,activity,ideas etc.The term also refers to service products such as insurance.

The reason why one should choose marketing  as a major choice of life is ;

1.Marketing enhances consumer awareness about the existing products.

2.It increases competition in the market thereby driving prices down.

3.It enhances job creation in the economy.

4.It widens the choice of all consumers.

5.Marketing pays for the news and entertainment from the media.

The Four Principles Of Marketing


For there to be a business there has to be a product.A product can be both a service or an item.This service is exchange for money.A person needs to decide on what he or she wants to sell and this is very important in marketing.This is determined by the customer needs.Introduction of a new product becomes difficult to explin to the customer and so one need to be in a position to communicate explining why his or the compnies goods are different from other competitors.At the end of the day the customer needs to understand the product.

It is important to look at a product as a marketer and ask yourself “is the product or service appropriate or suitable for the market?â€this gives you a go ahead into marketing your product.


This comes hand in hand with the product being sold, it determines the fate of the product in quetion this is because if the consumers cannot afford the product they wount buy and at the end of the day they will look for a product that they can afford.Price determines the perception or availability of the product.It can also affect the profit based on the price example in some cases of lower price there is more profit.

Depending with the market one is sometimes forced to lower or hike the prices.There is also a need to have terms and condition of sale which can be shown by maitaining once price for a period of time e.g months or years.Profitability of certain products or services is not determined by the effort of production so despite the effort there is no need to raise price because it may cause loosing of customers.

Another way of marketing through pricing is using special offers and promotion.One can use both products and services with special offers by including items that cost very little to produce to make prices to look more attractive.In case of resistance from the consumers there is need to change the pricing structure. 


This is done to let the consumer be aware of the products or goods and services.It is done by advertising and it involves coupons,special events and sampling.

There are three types of promotion;

1.Consumer promotion

2.Trade promotions

3.Business promotions

All of them are targeted for different audience consumer promotion is for the end consumer,trade promotion is for the traders and business promotions are for business consumers.


This comea in consumer promotions.It is a technique used by large firms to enable customer to try new produsts before buying.

Sampling is more convicing because one gets to know such attributes as scent and taste.It can be used to revive sales of slumping products.

Sampling is done by mail,house to house delivery,private delivery,distribution at the point of purchase.


This is the reduction of prices.It is a certificate that entitles the bearer for a stated amount of saving in purchasing products.

Coupons are done through news papers and magazines insertions mailed and encrosed in other products.They limit price reduction to those customers who are sensitive to price bills and also increase product trial among prospective customers.


One must consider where he or she is going to offer the service this is because the product or service must be accessible to the consumer at the time he or she needs it.Also one needs to find out the habits of the potential customers so as to be able to effectively decide on the place to locate once product or service.

It can also be described as the place where the service or product is being sold.This principle of place is wide because it does not limit where to sell products.Companies use sales people which is known as direct seling who scatter everywhere to do sales.

For a person to be successful in marketing one needs to have the four principles in mind and more so they need to be effected by being proffesional,passionate being proud of your product and finally by performing.

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