Marketing is a complex function and does not sum up to sales alone.

To develop a better understanding of the marketing practices, let us know about its nature-

• Managerial Function- Marketing is all about successfully managing the product, place, price and promotion of business to generate revenue.
• Human Activity- It satisfies the never-ending needs and desires of human beings.
• Economic Function- The crucial second marketing objective is to earn a profit.
• Both Art and Science- Creating demand of the product among consumers is an art and understanding human behaviour, and psychology is a science.
• Customer Centric- Marketing strategies are framed with the motive of customer acquisition.
• Consumer Oriented- It practices market research and surveys to know about consumer’s taste and expectations.
• Goal Oriented- It aims at accomplishing the seller’s profitability goals and buyer’s purchasing goals.
• Interactive Activity- Marketing is all about exchanging ideas and information among buyers and sellers.
• Dynamic Process- Marketing practice keeps on changing from time to time to improve its effectiveness.
• Creates Utility- It establishes utility to the consumer through four different means; form (kind of product or service), time (whenever needed), place (availability) and possession (ownership).