Marketing and Promotion

Marketing

Marketing is the process by which sellers find buyers and by which goods and services move from producers to consumers. There are many marketing activities. For example, advertising and selling are part of the market­ing process. Other marketing activities include financing by banks and deliveries to shops and homes. Marketing is so important to industry that about half the cost of goods and services results from the marketing process.

Consumers in most countries can choose from a huge variety of products and services. Therefore, a com­pany must have an effective marketing programme to make its products and services attractive to customers. Every growing business engages in five major market­ing activities; (1) market research, (2) product develop­ment, (3) distribution, (4) pricing, arid (5) promotion.

Market research is the study of the probable users of a product or service. Such potential customers are called a market. It also examines competitive products and the way in which they are sold and distributed. There are many sources of market information. For ex­ample, government statistics about population and in­come indicate the size of a market and its purchasing power.

Product development includes determining the var­ious goods to be offered, as well as developing the products themselves. Manufacturers continually meet the demands of the public by adding new products, changing existing ones, and dropping others.

Distribution is the movement of goods and services from producer to consumer. A manufacturer must es­tablish a system that keeps products moving steadily from the factory to the customer. Such a system is called a marketing channel or a channel of distribution.

Many types of companies take part in distribution. They include wholesalers, who sell large quantities of goods to retailers. The retailers, in turn, sell small num­bers of products to consumers. Independent dealers and agents buy goods from manufacturers in large quantities and sell them to retail dealers in small quanti­ties. Other firms provide such services as financing, transportation, and storage.

Pricing. When setting the price of a product, most manufacturers start with their unit production cost, the expense of making one unit of the item. They add a per­centage of this cost to provide a profit for themselves. Each firm adds an amount that covers its expenses and enables it to make a profit. The amount added at each stage is called a markup. The final selling price of an item equals its production cost plus the total of the markups. See Price; Profit.

Some people believe a large part of the money spent on marketing is wasted. But most economists believe the marketing process actually benefits consumers. For example, market research helps industry offer what customers need and want. Marketing also provides con­sumers with shopping information and makes products available in convenient quantities at nearby locations.

Promotion includes advertising, catalogues, cou­pons, direct-mail, in-store displays, and door-to-door sales. Companies engage in a variety of promotional ac­tivities to inform customers about products and services and to persuade them to buy. See the articles on Adver­tising and Salesmanship for more information about this phase of marketing. Related articles: Agriculture, Consumption, Livestock (Marketing live-stock), Cooperative (Marketing cooperatives, Market research , Retailing, Food (Marketing), and Trade.

Mary was the mother of )esus. She is also known as th_e Virgin Mary, the Blessed Virgin Mary, or the Blessed Virgin. Mary's family lived in Nazareth. According to Luke, she gave birth to Jesus in Bethlehem. She had gone there with her husband, Joseph, to have their names recorded as members of the House of David.

The sufferings of Jesus brought great sorrow into Mary's life. At the Crucifixion, according to John 19, Jesus asked His beloved disciple, perhaps John, to take care of her. Little is known about her later life. It is be­lieved that she died in Jerusalem about A.D. 63. Mary is venerated by the Roman Catholic, Anglican, and Eastern Orthodox churches as the "Mother of God."

The story of Mary has always been a favourite subject of artists and musicians. Many great paintings and songs have been based on her life. Related articles: Anne-Saint, Fatima, Joseph, Annunciation, Immaculate Conception, Lourdes, Assumption, Madonna and Child, Christmas, Jesus Christ.