Marketing Management 1
Marketing Introduction Business = Marketing Marketing is the truly entrepreneurial part of business Marketing is the truly strategic part of the business. Marketing is an art, a science, a system, a process, a relationship. Marketing is meeting human needs or meeting customer needs. Marketing answers the following questions. Who are our customer? What must we do to meet their needs? How to meet their needs at a profit? Marketing adds value to the goods by providing 1. Time utility: distribution, storage and timely distribution 2. Place utility: sorting and grading 3. Possession utility: cash & credit facility, transfer of ownership. 4. Form utility: raw material to finished goods 5. Person utility: establish contact Definition of Marketing Marketing is the performance of business activities that direct the flow of goods and services from the producer to the consumers. Marketing is a the human activity directed at satisfyingneeds and wants through an exchange process. (K...