1 2 introduction to marketing its environments definitions terms philosophies

INTRODUCTIONDefinition of marketingThere are various definitions of marketing. One of the common definitions is given by PhilipKotler, a marketing professor.According to Kotler,Marketing is a system of business activities designed to plan,price, promote and distribute want satisfying goods and services to target markets, in order toachieve organizational objectives. The American Marketing Association (AMA), definesmarketing, as approved in 2007, as ―the activity, set of institutions, and processes for creating,communicating, delivering, and exchanging offerings that have value for customers, clients,partners, and society at large. ‖Marketing is the business function that delivers customer satisfaction at a profit. It creates valuesfor the customers and receives values from the customers in return. Marketing focuses on gettingcustomers, and keeping customers by satisfying their needs. Marketing creates values andsatisfaction for the customer. It is the delivery of satisfaction to the customers at a profit.Marketing as defined above is applicable in all these areas:In the profit-making enterprisesIn the government institutionsIn other not-for-profit organizationsOther markets includesConsumer mktsBusiness mktsGlobal MktsCore marketing conceptsThe core marketing concepts help to understand the basic principles of marketing. The coreconceptsinclude:Needs, wants, demandsProducts and servicesCustomer value, satisfaction and qualityExchange, tran … Purchase document to see full attachment

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