The Institute of Telecommunications Professionals

This Unit gives an overview of the basic principles of marketing and stresses the importance of marketing in the modern firm. It highlights the marketing concept and explains the marketing function, pointing out the difference between marketing and sales. It also explains in some detail the tasks associated with managing the marketing function and the three key marketing principles. It concludes by recognising that without an efficient marketing function the firm will eventually wither and die.

Market forecasting is central to the way any business operates, whether it is a singleperson business or a large multinational organisation. In this analysis of market forecasting, Mike Barker argues that the same principles and approach should be adopted to differing degrees.