In your opinion what essential concepts should be included in a definition of marketing?
Marketing is a managerial process by which organizations identify, anticipate and satisfy target customer needs and wants better than the competitors do so as to build a mutually beneficial long term relationships. Marketing is an ongoing process. Developing the 4P's (Product, Price, Place, Promotion) is also essential.
The Core marketing concepts however are the most crucial. Firstly there are needs. This is the root. Needs are divided into three (Physical, Social, Individual). A physical need is a need which is believed to improve your performance etc. A social need is a way of fi…
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