Basic Marketing EP2 : How Marketing Relates to production.

      Production is very important economic activity. Whether for lack of skill and resources or just lack of time, most people don't make most of the product they use.

      Although production is a necessary economic activity, some people overrate its importance in relation to marketing. Their attitude is reflected in the old saying: "Make a better mousetrap ang the world will beat a path to your door." In other words, they think that if you just have a good product, your business will be a success.

      the point is that production and marketing are both important parts of total business system aimed at providing consumers with need-satisfying goods and services. Together, production and marketing supply five kinds of economic utility-from, task, time, place, and possession utility-that are needed to provided consumer satisfaction. Here,
utility  means the power to satisfy human needs.

 From utility is provided when someone produces something tangible.

 Task utility is provided when someone performs a task for someone else.

 Time utility means having the product available when the customer wants it.

 Place utility means having the product available where the customer wants it.  

 Possession utility means obtaining a goods or service and having the right to use or consume it.

      Stated simply, marketing provides time, place, and possession utility. It should also guide decisions about what goods and services should be produced to provide from utility and task utility. We'll look at how marketing does this later in this EP. First, we want discuss why you should study marketing, and then we'll define marketing.

BY REZPIRO