![]() Marketing programme is called marketing mix. Marketing is an on-going (continuous) process of discovering and translating consumer wants into appropriate products and services (by means of planning and developing a product on the basis of marketing research and information), creating demand for these products (through pricing and promotion) under keen competition, and serving the demand (through transport and storage) with the help of channels of distribution, such as wholesalers and retailers. It ignores the importance of marketing management responsible for planning, organizing and conducting marketing campaign through a proper marketing mix of product, price, promotion and distribution. It does not stress the function of exchange, viz., the transfer of ownership, which is the heart of marketing.Ĥ. The two fold goal of marketing is to attract new customers by promising superior value and to keep current customers by delivering satisfaction.ģ. Marketing is the delivery of customer satisfaction at a profit. Creating customer value and satisfaction are the heart of modern marketing thinking and practice. Marketing, more than any other business function, deals with customers. Drucker and a Few Others Definitions of Marketing – Definition by Philip Kotler Definitions of Marketing by Eminent Authors like Philip Kotler, Peter F. Philip Kotler’s definition of Marketing is – “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with other”. ![]() In the words of Cundiff and Still – “Marketing is the term used to describe collectively those business functions most directly concerned with the demand stimulating and demand-fulfilling activities of the business enterprise” The American Marketing Association defines marketing as the process of planning and executing conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. Marketing is a very broad term that is difficult to conceptualize and define. Everything you need to know about the definitions of marketing.
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