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PPT : Introduction to Marketing
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What is Marketing?
There are many different definitions of marketing. Consider some of the following alternative definitions:
* “The all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time”
* “The achievement of corporate goals through meeting and exceeding customer needs better than the competition”
* “The management process that identifies, anticipates and supplies customer requirements efficiently and profitably”
* “Marketing may be defined as a set of human activities directed at facilitating and consummating exchanges”
* Which definition is right? In short, they all are. They all try to embody the essence of marketing:
* Marketing is about meeting the needs and wants of customers;
* Marketing is a business-wide function – it is not something that operates alone from other business activities;
* Marketing is about understanding customers and finding ways to provide products or services which customers demand
*To help put things into context, you may find it helpful to often refer to the following diagram which summarises the key elements of marketing and their relationships:
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