An old man explains marketing in simple words
The Story
Some commerce students were discussing marketing on a train. An old man was listening to them and laughing. He asked if he could explain marketing in simple words.
The students were curious. The old man said:
"Imagine you're at a wedding and see a beautiful girl. Let me explain marketing concepts through this situation."
Marketing Concepts Explained
1. Direct Marketing
Situation: You go to the girl and say "I am rich and educated. Will you marry me?"
Meaning: Approaching customers directly with your offer
2. Advertisement
Situation: Your friend tells her "He is rich and educated. Will you marry him?"
Meaning: Someone else promotes your product
3. Brand Value
Situation: The girl comes to you and says "You are rich and educated. Will you marry me?"
Meaning: Customers come to you because of your reputation
4. Demand-Supply Gap
Situation: The girl tells you she is already married
Meaning: What you want is not available in the market
5. Competition
Situation: Another person proposes to her first and she accepts
Meaning: Others offering similar products to your customers
6. Production
Situation: You get married and have a child
Meaning: Creating results from successful business
7. Customer Feedback
Situation: The girl slaps you when you propose
Meaning: Immediate response from customers about your offer
8. Risk of New Market
Situation: Your wife appears when you propose to the girl
Meaning: Unexpected problems when trying new business
The Lesson
The old man's simple story helped students understand complex marketing concepts easily. Sometimes the best explanations are the simplest ones!
