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Chapter 1 Marketing in the 21st century

Marketing tasks

Three stages through which marketing practice might pass

1) Entrepreneurial marketing: Most companies are started by individual who live by their wits. They visualize an opportunity and knock on every door to get attention
Ex. A person sold beer door to door and such direct selling. Slowly he became market leader in selling his products.

2) Formulated marketing: when small companies achieve success, they move to formulated marketing i.e. already laid down advertising methods, like thru TV etc.

3) Intrepreneurial Marketing: some companies rely on formulated marketing, without much success. They need to develop some creative out of the box ideas to market their products.

Scope of Marketing

Marketing people are involved in 10 types of entities:

1) Goods like eggs, steel, cars (Maruti!!!! Wow)
2) Services like airlines, hotels, barbers
3) Experiences like Walt Disney world’s magic kingdom, at......

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Approximate Word Count: 4671
Approximate Pages: 19 (250 words per double-spaced page)

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