. THE WORLD OF MARKETING IMPORTANCE OF MARKETING THE SCOPE OF MARKETING COMPONY ORIENTATION TOWARDS THE MARKET PLACE FUNDAMENTAL MARKETING CONCEPTS, TRENDS AND TASKS.

Defining Marketing An organizational function and a set of processes for creating ,communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders Marketing is 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. Defining Marketing An organizational function and a set of processes for creating ,communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders Marketing is 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.

Marketing Management is the art and science of choosing target markets and building profitable relationships with them. Structure of Flows Manufacturer markets Services, money Government markets Services, money Services Services, money Taxes Taxes, goods Taxes, goods Taxes, goods Money Money Consumer markets Intermediary markets Goods, services Goods, services Resources Resources Resource markets Money Money.

. QUALITY IN MARKETING Quality has three dimensions Meeting and striving to exceed customers’ requirements. The absence of variation. Total organizational commitment. The best indicator of quality is customer satisfaction.

Understanding the Marketplace Needs, wants, and demands Marketing offers: including products, services and experiences Value and satisfaction Exchange, transactions and relationships Markets Value Customers form expectations regarding