What are the marketing entities?

Answer 1

Ten Marketing Entities

Ten types of entities have been identified which may be marketed in the market such as, goods, services, events, experiences, persons, places, properties, organizations, information, and ideas.

Goods: Physical goods that may be manufactured, produced in farms or mined. These account for the bulk of the marketing efforts in most of the countries.

Services: These are intangible products that involve performing some service for the customers. This may be service performed on the customer, like a haircut, on customer's possessions, like servicing of car, or for the customer, like screening of a movie. Services account the maximum marketing effort after products in most of the countries. In many developed countries the volume of services has exceeded that of goods.

Events: Time based shows such as new year celebration, or a sporting event.

Experiences: Experiences which results from a combination of products and services. The customer is interested in the total experience such as an organized holiday tour package rather than the individual products and services included in the package.

Persons: Like marketing of a celebrity or of a candidate in a public election.

Places: Like cities, state, nations, for purposes such as attracting tourists and investment.

Properties: This could be physical properties like real estate or intangible rights in properties.

Organizations: This basically refers to building positive image of organizations, such as companies, universities, and charitable organizations.

Information: Books are the traditional means of selling information, but there are many other type of information marketed. For example market intelligence, economic analysis and mailing lists.

Ideas: Every market offering includes a basic idea. In addition ideas may be marketed by themselves. For examples, some religious bodies try to promote their ideas of what constitutes the right behavior.

SAJJAD HUSSAIN

(sajjadhussain.dihe@gmail.com)