Scope of Marketing

According to W. J. Stanton "Marketing is a total system of business designed to plan, price, promote and distribute want satisfying products to target markets to achieve organization objective."
Marketing Activities: According to American Association "Marketing is the performance of business activities that direct the flow of goods and service from producer to consumer or user.
Selling/Buying/Transportation/Storage <(Marketing function)> Grading/Risk Taking/Market Information/Financing
Figure: Marketing Function
• MARKETING MIX: The combination of 4P's are called marketing mix. According to M. C. Carthy "The 4P's are inter related and must be balanced into one integrated whole to satisfy some target markets needs and preferences. These are commodity, cost, convenience and campaign.
MARKETING MIX >(Product/Price/Place/Promoting)} 4P'S
• PRE-PLANE OF PRODUCTION: Though at the primary stage post process of considered subject of marketing, in modern marketing pre-plane of production are included in the scope of marketing.
Marketing>Production>Demand>Consumption>Production
• BUSINESS ACTIVITIES: Basically, now a days Trade & Commerce that means all business activities are involved. Actually, without marketing business activities is not thinkable.
• ORGANIZATIONAL MARKETING: Marketing organization are those which direct and control the flow of products. Such as wholesalers, retailer, broker, jobber, stabilized organization and ancillary organization. Such as E. P. B and T. C. B, Share Market etc.
• MANAGEMENT PROCESS: W. J. Stanton says, The management process as applied to marketing. Consists basically of-
Planning a marketing program
Implementing it and
Evaluating its performance.
• ECONOMICAL PROCESS: Marketing organizations implement the theory and information economics. According to converse, "Marketing is the creation of place, time and possession utilities."