People’s needs, wants and demands imply the existence of the offering to satisfy it.
“Market offer – some combination of products, services, information or experiences offered to a market to satisfy a need or want” (P. Kotler, 2005 p. 9)
If to look down on the theory of microeconomics, the market demand is dictated by the market price of the product or the bundle of products a consumer wants. Therefore, if the price on the desired product goes up, demand goes down and the other way round. Market offering or supply is linked to demand inversely, meaning that supply will grow with the growth of the price on the market, whereas demand will decline. The market price is set in the equilibrium point between demand and supply.
Not only products are considered as marketing market offering, also services, activities or benefits that are intangible and do not result in ownership of anything can be included. So, not making a mistake of just selling a product or service, a marketer is promoting a complete solution or experience for customers. (P. Kotler, 2005 p. 9)
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