Foundations of Marketing Essentials

Marketing as a subject is an age-old domain of knowledge used to entice customers across the globe. It has a wide scope and diversified application which impact the way an individual live and spend his/her life. It is a reality that human demand changes with the change in external environment and desire of living a better life. This desire is controlled and at times manipulated by the sellers who believe in finding new products to make a fresh market. Customers are buying online with multiple options of ordering products and making payments. Mass promotion tools are getting replaced by the customized mode of promotion as AI and data mining has provided new opportunities to easily identify target customers. Nevertheless, the importance of basic concepts of marketing has not changed. Indeed, we should learn to blend the latest trends of the market with the basic principles, theories, and functions of marketing.This subject is purely an attempt to capture and illustrate mega changes and paradigm shifts experienced in the world market through opening of the economy, entry of multinational companies, emergence of upwardly mobile middle class and corresponding demographical shift, emergence of young, active, and vibrant consuming class, and integration of information technology with marketing strategy to deliver value to its consumers.