Ch 8Marketing — Class 12 Organisation of Commerce and Management, concept-first.

Every business exists because it makes something a customer is willing to pay for — but making a good product is only half the job.

In everyday speech, people often use "marketing" to mean nothing more than advertising, or simply "selling." In business, the term is much wider.

The most common confusion a student meets in this chapter is treating "marketing" and "selling" as the same activity.

Marketing is not a single activity but a bundle of related functions that together move a product from the producer to the satisfied final customer. The main functions studied at this level are:

The marketing mix is the set of controllable tools a business blends together to satisfy its target customers and achieve its marketing objectives.

Within the fourth "P" — Promotion — a business again has several distinct tools to choose from and blend together; this blend is called the promotion mix. The main elements are:

Over time, businesses have followed different underlying philosophies about how to approach the market — these are called marketing concepts or orientations. Five are commonly studied:

Marketing matters not only to the business that practises it, but also to the customer and to the wider economy.

Sample papers and previous-year board questions for this subject.