Marketing

WHAT IS MARKETING

1. Marketing is a total system of business activity designed to plan, price, promote and distribute want-satisfying products and services to markets in order to achieve the objectives of the business.
2. The Three aspects of marketing are:
It is a concept that makes the customer the focus of the business.
It is a function, a ‘department’ of the business that is responsible for all the ‘marketing’ activities.
It is a range of techniques from market research, product development, pricing, promotion and distribution.
Marketing is a philosophy that puts the customer at the centre of everything a business does. A business that is truly following a marketing approach will study customers to find out their needs and wants, and then organize all business activities towards providing goods and services to satisfy those needs and wants while achieving the goals of the business.
As a business function, marketing is a set of activities that plans, pr...