Nature of the marketing:
1. Specialized business function: in the early days, the selling function did not call for any specialized skills as the sales could have been affected on production basis. But now the business environment has undergone tremendous changes in social, economic, political and cultural aspects. The management of a firm, therefore, has to develop a particular organization with a view to absorbing new ideas, new approaches and new market demands.
2. Socially desirable function: it requires constant interaction with the various strata of the society; it is instrumental in manipulating the factors of production, distribution, promotion and the price, and also in influencing the patterns of consumptions and consumer attributes.
3. Integrative function: it integrates and combines the other business functions like production, finance, personal, R & D etc. with a view to accomplishing the organization objectives.
4. Reflects the business mission: Marketing reflects the business mission of a firm before the public and the society.
5. Adaptation to environment variables: it is said that change is the only basic law of economics. Marketing, which is the art of distributing the products and services among the various climates, has also only one basic law, change.
6. University function: it has a university in the sense that it can be applied to both profit motive and non profit motive organizations. A profit seeking business is dependent on marketing. The institutions like hospital, school, university, or political association also practise marketing in popularizing the services offered by them.
7. Management function: Marketing is a management function like the management of other functions such as production finance, personnel, etc. the business politics, strategies and programmers related to marketing are mostly of managerial function. These are needed to be planned, organized, directed, coordinated, and controlled so as to achieve the marketing objectives.