Market:- The concept of exchange and relationships lead to the concept of a market

“A market is the set of actual and potential buyers of a product.” These buyers share a particular need or want that can be satisfied through exchanges and relationships

Originally the term market stood for the place where buyers and sellers gathered to exchange their goods, such as a village square, Economists use the term market to refer to a collection of buyers and sellers who transact in a particular product calls, as in the housing market or the grain market.

Marketing:- def:-

A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products, and value with others.

Many people think of marketing only as selling and advertising. However, selling and advertising are only the tip of the marketing iceberg. Today, marketing must be under stood not in the old sense of marketing a sale “ telling and selling” but in the new sense of satisfying customer needs.

It can be defined as “ marketing is the delivery of customer satisfaction at a profit.

The market concept holds that achieving organizational goals depends on determining the needs and want of target market and delivering the desired satisfactions more effectively and efficiently that do competitions.

The marketing concept has been stated in colorful ways such as “ we make it happen for you” (Marriott) To fully to serve ( British Airways) sound marketing in critical to the success of any organization large or small for profit or non profit, domestic or global. Large for profit firms such as McDonald’s , Sony, FedEx, Wal-Mart and Marriott use marketing and even churches. Moreover, marketing is practiced not only in the omitted state but also in the rest of the world.

The selling concept and the marketing concept are sometimes confused.

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