Marketing is the process of satisfying the needs of a consumer.
It starts with the identification of needs and wants of a market and continues till the needs and wants are satisfied. Market — A market is an actual or nominal place where buyers and seller meet to trade goods and services.
Marketers — A marketer is a person seeking resources from someone else and is willing to offer it to someone else in lien of some value in exchange. Marketing — It is a total system of interacting business activities designed to plan, price, promote and distribute, want satisfying goods and services to present and potential customers.
According to AMA — Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create an exchange that satisfies individual and organizational objectives.
Demarketing — It refers to marketing activities which deal with discouraging customers or a certain section of customers to purchase a particular product or like a particular brand. It consists of all efforts that are made to reduce the demand for a product. Demarketing may be carried out on a temporary or permanent basis.
Marketing Management: Chapter 2
Marketing adds value to products and services by providing the following utilities:.