Marketing deals with identifying and meeting human and social needs. One of the shortest definitions of marketing is ―meeting needs profitably‖. The objective of all business enterprises is to satisfy the needs and wants of society.
Meaning and Definition of Marketing
The concept of marketing can be viewed from social and managerial perspectives. So Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others. At its simplest, marketing can be defined as exchange transactions that take place between the buyer and the seller.
NATURE OF MARKETING (Exam Studies)
(a) Marketing is customer-oriented: Marketing begins and ends with the customer.
The job of marketing is not only to satisfy the consumer but even to delight him/her.
All the activities of an organization must be directed and focused on the consumer.
Organizations can not ignore emerging technologies, materials, instruments, and new ways of organizing things but with the consideration of consumers.
- Scope of Marketing
- CONSTITUENTS OF THE MARKETING ENVIRONMENT
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