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Mangement

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Submitted By Asadullah123
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What is marketing?
Marketing can be referred to as a form of communication with your customers, with the help of marketing tools such as advertising, promotion, publicity, design aspects related to the look of the product etc. All these are aimed at getting the target audience (customer) to first get interested in your product or service and then ultimately buy them.

* Marketing is a social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others * PHILIP KOTLER)
ANY INTERPERSONAL AND INTER ORGANISATIONAL RELATIONSHIP INVOLVING AN EXCHANGE IS MARKETING .
WILLIAM J. STANTON.)
Explain its core concepts.
Needs, wants and demands are the core concepts of marketing. These are basically inter related to each other which means needs which could be individualistic, social or physical arise due to a state of deprivation and have to be fulfilled for a basic human survival. Some human needs shaped by cultural and individual experiences and lifestyles take the form of wants. Ultimately demands are those sets of wants which are backed by the power to buy and could be related to many needs & wants. Other related concepts of marketing may include the Marketplace with exchange and the actual transaction as its base.
The essence of Marketing is a transaction - an exchange- intended to satisfy human needs and wants.There are three elements in the marketing process :
(A) MARKETERS
(B)WHAT IS BEING MARKETED
(C) TARGET MARKET
This definition includes following core concepts: NEEDS, WANTS and DEMANDS
--- PRODUCTS------
VALUE & SATISFACTION
---EXCHANGE & TRANSACTION
---MARKETS & MARKETERS. * NEED : A state of felt deprivation of some basic satisfaction ( Food, Clothing, Shelter, Belonging etc. ) * Needs - state of felt deprivation including physical,

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