MARKETING

MARKETING MEANS TO UNDERSTAND CUSTOMER NEEDS, SATISFYING AND MAKE PROFIT. IT IS THE PROCESS OF COMMUNICATING THE VALUE OF A PRODUCT OR SERVICE TO CUSTOMERS FOR THE PURPOSE OF SELLING THE PRODUCT OR SERVICE. MARKETING SATISFIES NEEDS AND WANTS THROUGH EXCHANGE PROCESS AND BUILDING LONG TERM RELATIONSHIP.

MARKETING IS EVERYWHERE. MARKETING AFFECTS OUR DAY -TO- DAY LIFE. IT IS EMBEDDED IN EVERYTHING, FROM THE CLOTHS WE WEAR TO THE WEBSITES WE CLICK ON, TO THE ADS WE SEE. FORMALLY OR INFORMALLY, PEOPLE AND ORGANISATIONS ENGAGE IN A VAST NUMBER OF ACTIVITIES THAT COULD BE CALLED MARKETING. GOOD MARKETING IS NO ACCIDENT, BUT A RESULT OF CAREFUL PLANNING AND EXECUTION. ITS EXCELLENCE IS RARE AND DIFFICULT TO ACHIEVE. IT IS BOTH ART AND SCIENCE. FINANCIAL SUCCESS OFTEN DEPENDS ON MARKETING ABILITY. MARKETING MANAGERS MUST MAKE MAJOR DECISIONS SUCH AS WHAT FEATURES TO DESIGN INTO A NEW PROODCT, WHAT PRICES TO OFFER, WHER TO SELL PRODUCTS, AND HOW MUCH TO SPEND ON ADVERTISING OR SALES. THEY MUST ALSO MAKE MORE DETAILES DECISIONS SUCH AS THE EXACT COLOUR FOR NEW PACKAGING. SKILLFUL MARKETING IS A NEVERENDING PROCESS. MARKETING DEALS WITH IDENTIFING AND MEETING HUMAN AND SOCIAL NEEDS. ONE OF THE SHORTES DEFINITIONS OF MARKETING IS “MEETING NEEDS PROFITABLY.”

MARKETING IS AN ORGANISATIONAL FUNCTION AND A SET OF PROCESS FOR CREATING, COMMUNICATING AND DELIVERING VALUE TO CUSTOMERS AND FOR MANAGING CUSTOMER RELATIONSHIP IN WAYS THAT BENEFIT THE ORGANISATION AND ITS STAKE HOLDERS.  MARKETING IS A SOCIETAL PROCESS BY WHICH INDIVIDUAL AND GROUPS OBTAIN WHAT THEY NEED AND WANT THROUGH CREATING, OFFERING AND FREELY EXCHANGING PRODUCT AND SERVICES OF VALUE WITH OTHERS. THE AIM OF MARKETING IS TO KNOW AND UNDERSTAND THE CUSTOMER SO WELL THAT THE PRODUCT OR SERVICE FITS HIM AND SELLS ITSELF. MARKETING SHOULD RESULT IN A CUSTOMER WHO IS READY TO BUY. ALL THAT SHOULD BE NEEDED THEN IS TO MAKE THE PRODUCT OR SERVICE AVAILABLE. MARKETING WORKS FOR SENSING, SERVING, SATISFYING AND MAKE PROFIT. MARKETING IS AN ONGOING PROCESS WHICH BEGINS AND ENDS WITH CUSTOMER.

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