|Book Edition||13th Edition|
|Publisher||Pearson Higher Education|
Marketing is a broader concept than sales and includes all such activities that will help in creating, communicating, and delivering value in order to build a long-term customer relationship. This definition primarily focuses on establishing a relationship that is vital for long-term profitability. The retention of the consumer is easy and less costly than acquiring new consumers. Hence, the consumer relationship is built through marketing.
If marketing is considered as a means to achieve short-term goals of profitability and higher sales only then it will not include the concepts of the customer relationship, customer value, and customer engagement.
If marketing is considered as a means to achieve the long-term goals of a company, then it is bound to include these concepts.
Marketing includes all such activities that are directed towards establishing a long-term customer relationship.
The definition of marketing may or may not include key concepts like customer relationship, customer value, and customer engagement.