CH 1.ppt - DEFINITIONS OF MARKETING Marketing consists of...

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DEFINITIONS OF MARKETINGMarketingconsistsoftheperformanceofbusiness activities that direct flow of goods andservicesfromproductuser.(AmericanMarketing association)Marketingistheprocessofplanningandexecutingtheconception,processing,promotion, and distribution of ideas, goods andservicestocreateexchangesthatsatisfyindividualandorganizationalobjectives.(American Marketing association)
Marketing means working with the markets,which in turn means attempting to actualizepotentialexchangesforthesatisfyinghuman needs and wants . Thus we return toourdefinitionofmarketingashumanactivity directed in satisfying need and wantthrough exchange process (Philip Kotler).
BUSINESS ACTIVITIESNeedsKotler (1996), has defined needs as a state of feltdeprivation in a person.WantsKotler (1996), defined wants as the form of humanneeds as shaped by culture and personaldevelopment.DemandDemand exist when a person is able and willing tobuy.
ProductKotler (1996) has define as a product as anything thatcan be offered to a market for attention ,acquisition,use, or consumption that might satisfy a need andwant.ExchangedKotler (1996) has defined as exchanged as the act ofobtaining a desired object from someone by offeringsomething with marketing.Exchange core concept:There are both partiesEach party has something that may be of valueto the orderparty.Each party is capable of communicationand delivery.

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