Chapter one Introduction to Marketing

Why market?
 To communicate that you are engaged in new and different activities

 To attract paying customers in sufficient numbers to support the activities

Marketing: is the delivery of customer satisfaction at a profit.

 Social definition

A societal process by which individuals and groups obtain what they need and want through
creating, offering and freely exchanging products and services of value with others

 Management definition

It is the process of planning and executing the conception, pricing, promotion and
distribution of ideas, goods and services to create exchanges that satisfy individual and
organizational goals.

 Marketing, more than any other business function, deals with customers.

 Creating customer value and satisfaction are at the very heart of modern marketing
thinking and practice.

 Some people believe that only large business organizations operating in highly developed
economies use marketing, but sound marketing is critical to the success of every
organization – whether large or small, for profit or non – profit, domestic or global.