Marketers and Prospects

Marketers and Prospects
The concepts of markets bring us full circle to the concept of marketing. Marketing means working with market to actualize potential exchanges for the purpose of satisfying human needs and wants.

If one party is more actively seeking an exchange than the other party, we call the first party a marketer and the second party a prospect. A marketer is someone whom the marketer identifies as potentially willing and able to engage in an exchange of values. The marketer can be a seller or a buyer, suppose several persons want to buy an attractive house that has just become available. Each prospective buyer will try to market himself or herself to the seller. Those buyers are doing the marketing. In the event that both parties actively seek an exchange, we say that both of them are marketers and call the situation one of ‘reciprocal marketing’.

In the normal situation, the marketer is a company serving a market of end users in the face of competitors. The company and the competitors send their respective products and messages directly and/or through marketing intermediaries to end users. Their relative effectiveness is influenced by their respective suppliers as well as major environmental forces.

In this case, marketing can be defined as a social and managerial process by which individual and groups obtain what they need and want through creating and exchanging products of value with others.
Marketers and Prospects