Requirements for Marketing to Occur
Formarketing to occur, at least four factors are required: (1) tow or more parties (individuals or organizations) with unsatisfied needs, (2) a desire and ability on their part to be satisfied, (3) a wayfor the parties to communicate, and (4) something to exchange.
Two or more parties with unsatisfied needs Suppose you`ve developed an ument need__a desire for information about how technology isreshaping the workplace and the personal live of cosumers__but you didn`t yet know that Time Digital magazine existed. Also unknown to you was that several copies of Time Digital were sitting on themagazine rack at your nearest supermarket, waiting to be purchased. This is an example of two parties with unmet needs: you, with a needs for technology-related information, and your supermarket owner,needing someone to buy a copy of Time Digital.
Desire and ability to satisfy these needs Both you and the supermarket owner want to satisfy these unmet needs. Furthermore, you have the money to buythe item and the time to get to ´the supermarket. The store`s owner has not only the desire to sell Time Digital but also the ability to do so since it´s stocked on the shelves.
A way for theparties to communicate The marketing transaction of buying a copy of Time Digital will never occur unless you know the product exists and its location. Similarly, the store owner won`t stock the magazineunless there`s a market of potential cosumers near the supermarket who are likely to buy. When you receive a free sample in the mail or see the magazine on display at the checkout lane, this...