Sunday 21 August 2011

What is Marketing?

There are several definitions of marketing as described below:

(a) The American Marketing Association:
"Marketing is an
organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders."

(b)
Marketing management is
"the art and science of
choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value."

(c) A social definition of marketing is that
"marketing is societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others."

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