Markets and Livelihoods ProgramMarkets and Livelihoods Program

Practical Action

Market and Marketing (e v R v i I e v R v iR v Z K iY )

Market (e v R v i )A market is any one of a variety of systems, institutions,

procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services, most markets rely on buyers offer their goods or services (including labor) in exchange for money from buyers. In brief a market is a set of present and future buyers

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Importance of Market ( e v R v ‡i i c Ö ‡q v R b x q Z v )

Potter

Farmer

Hunter

Fisher-man Potter

Farmer

Hunter

Fisher-man

Potter

Farmer

Hunter

Fisher-man

Business-man

Independent Decentralized transaction Centralized transaction

Marketing ( e v R v iR v Z K iY )

‘Marketing is a social and managerial process by which individuals and groups obtain what they want and need through creating, offering and exchanging products of value with others’ - Kotler 1991

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Marketing Concept (e v R v iR v Z K iY a v iYv )

Markets

Transactions

Exchange Products

Demands

Wants

Need

Marketing concepts

• Who are our existing / potential customers?• What are their current / future needs?• How can we satisfy these needs?

• Can we offer a product/ service that the customer would value?• Can we communicate with our customers?• Can we deliver a competitive product of service?

• Why should customers buy from us?

Implications of Marketing( evR viR vZKiY -G i Dc j¶ )

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