Marketing Management and International Trade

Lesson 3. SCOPE OF MARKETING MANAGEMENT

Module 1. Overview of marketing

Lesson 3

SCOPE OF MARKETING MANAGEMENT

Marketing is an ancient art. Marketing has passed through several stages. It started with barter trade. In very early stage of development of civilization till the evolution of many economies covering pre industrial revolution era was specifically dominated by barter trade. The items like corn, cotton, meat, butter; leather, hand tool etc were exchanged among nations. During the era of industrial revolution large number of goods was produced at lower cost due to mass production. The era of industrial revolution was succeeded by era of competition which compelled organizations to pursue different marketing techniques to increase sale of their products and services. At present scope of marketing is unlimited. Whatever mankind needs, can be marketed. The following are items illustrating the scope of marketing:

1. Products: We as a human being have unlimited wants. This is satisfied by consumption of different products in the form of physical goods. Just like individual, countries also need many products for their citizens which naturally or otherwise not available in a particular country. Thus there is scope for marketing all kinds of products required by mankind within and across the countries.
2. Services: The activities in which mainland industries are categorized as the primary (agriculture and allied), the secondary (industrial), the tertiary (service) sector. With the progress of nation, the proportion of service sector increases. Services are intangible physical goods and vary from pure intangible goods like that of a lawyer to one that consists of large number of physical goods viz., restaurant meal.
3. Events/occasions: Throughout the world several events/occasions occur which gives marketers to promote them. For e.g. various sports events like common wealth games, cricket or soccer world cup, Miss Universe or miss world events etc.
4. Experiences: As human wants are unlimited it is possible to market wide variety of experiences. For example in metro and big cities of India, many restaurants are there which provide an experience of taking food in a village like atmosphere. Such experiences are enjoyed by rich family members.
5. People: Celebrities of various fields like sports, cinema etc are being rightly used as brand ambassadors for a particular company. They then promote the products of respective company/organization.
6. Locations/places: A region in terms of a particular city/ town/ state/ country etc is marketed for various purposes. For tourism industry the location plays an important role. For example Gir lion sanctuary in Gujarat is an attractive tourism spot.
7. Properties: Intangible rights of ownership of either real property (stocks or bonds). Properties are purchased and sold which requires marketing.
8. Institutions: In the era of competition, institutions try to build everlasting favourable image in the minds of consumers through variety of marketing programmers.
9. Knowledge: Knowledge in the form of vital information is marketed by self financed educational institutions to their clients (students).
10. Ideas: There are many noble ideas which are marketed by organization to help mankind. For example ideas which increase awareness about some deadly diseases like AIDS, crimes like female infanticide, dowry, corruption etc.

This if can be said there is scope for marketing for everything on this global village.