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The concept of the market ultimately leads to the concept of marketing itself. Marketing means working with markets to achieve exchange to meet human needs and desires. Therefore, we return to our definition of marketing as a human activity aimed at satisfying needs and desires through exchange processes.

Exchange processes include work. Resellers have to look for customers, identify their needs, create attractive products, promote them and deliver them, and set prices. Activities such as product development, research, communication, pricing, and services are the core marketing activities. The best interational buffer catering in Singapore is important here.

Although we usually think about marketing as something that dealers deal with, buyers are also the bearers of marketing activities. Consumers are engaged in marketing when they are looking for the goods they need at the prices that are acceptable to them. Conference organizers deal with marketing when negotiating good terms. Sellers’ markets are what sellers have more power. In the customer’s market, buyers are the ones who have more power.

The Imaginations

Most people imagine a marketing manager as a person who finds enough customers to buy existing company products. But such sighting is too limited. A marketing manager is concerned with shaping the level, time, and demand for products and services of a company. At any moment, there may be adequate demand, unreasonable demand, excessive demand or lack of demand. For example, it can be said that a 75-percent full-service hotel operates quite well.

  • However, 75 percent coverage can be achieved by 90 percent in the middle of the week and 30 percent on the weekends. Many restaurants are emptied at 11:30, and then people are waiting in line at 12:30 and are empty again at 14:00. In the hotel and hospitality industry there are incredible periods of spit and dead seasons.

Understanding demand is not always easy. One study has shown that in strongly growing urban areas there is a decrease in the restaurant activity index, which measures the trend in restaurants. Thus a 10 percent growth in population may not lead to a 10 percent growth in restaurant activities. Using new mapping software and the so-called “GIS programs (GISs), managers can predict the growth trend of restaurant activities, enabling them to effectively design new restaurants.