Question

Differentiate b/w market activities

Answer 1

The important points of differences between market and marketing are indicated below:

The market is defined as a physical or virtual set up where the buyers and seller need to proceed exchange of goods and services. Marketing is a set of activities that identifies, creates, communicates and supplies consumer needs.A market is a place, i.e. physical or non-physical. On the other hand, marketing is an act (abstract) of creating a utility of the product.The market is a process which sets the price of the product with demand and supply forces. Conversely, Marketing is a process which analyses, creates, informs and delivers value to the customers.The concept of marketing is wider than the concept of a market.The market varies by product, place and other factors. As opposed to marketing, the philosophy can be consistently applied, irrespective of product, place and any other factor.Market facilitates trade between the parties. Unlike marketing, that creates a link between the customer and company, to provide the right product at a right time at right place.