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Business Studies for Secondary Schools

Chapter One

FOR ONLINE READING ONLY
Marketing

Introduction

In today’s competitive business environment, marketing is no longer just about
promoting and selling products. It is about understanding customer needs and
wants in order to create value. Businesses that successfully identify what people are
looking for can develop better goods and services, set competitive prices, design
effective promotion strategies, and ensure easy access to their offerings. In this
chapter, you will learn about the concept of marketing, the marketing mix, and
e-marketing for small businesses. The competences developed will enable you to
successfully market your business and provide valuable marketing advice to others.

Think
A person producing or offering a product without knowing who needs it.

The concept of marketing

Activity 1.1

Visit a local market and observe how sellers attract buyers. Pay close attention to their
actions, words, and techniques. After the market visit, reflect on your experience and
answer this question: how did the sellers try to catch the attention of buyers and con-
vince them to buy their products?

The answers in Activity 1.1 reflect the main concern of this chapter. Many people
perceive marketing as solely focusing on selling and advertising. This misconception
is understandable, as television commercials, sales campaigns, catalogues, and e-mail
advertisements are widespread in daily life. However, marketing extends far beyond
these aspects. It encompasses the process of identifying consumer needs and wants,

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