Marketing Management 3(2+1)

Lesson 02 : Marketing, Selling and Merchandising

Marketers and prospects

The main elements of the modern marketing system are shown in fig below. Each element adds value to the next level. There should exist a relationship between the elements (represented by arrows) for a proper marketing to take place. In this system, the major elements are affected by environmental forces such as demographic, economic, physical, technological, political/legal and social/cultural forces. A company's success depends not only on how it reacts but how well the entire system serves the customer needs.