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Introduction to Marketing

Introduction to Marketing
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  Prepared By, Sagar M Gadekar   Paul Mauser,   “Marketing  is delivery of a standard of living to society. ”    Philip Kotler,   “Marketing  is the beginning and end of all the business activity. ”    The American Marketing Association,   “Marketing  includes all activities which are connected with the transfer of ownership and possession of goods and activities. ”    The Chartered Institute of Marketing  (CIM) says:  The management process responsible for identifying , anticipating and satisfying customer requirements profitability.  Dennis Adcock defines marketing  as  The right product, in the right place, at the right time, at the right price.   W.J. Stanton,   “Marketing  is total system of interacting business activities designed to plan, price, promote and distribute want satisfying products and services to the present and potential customers. ”    According to William Stanton ã Marketing and System : A system of business activities. ã Designed to : Plan, Price, Promote and distribute. ã Object of Action : Want satisfying goods and services. ã Beneficiaries of action : The Market present and potential house hold consumers or industrial users.   This definition treats marketing as one of the most powerful functions.  It consider the necessity of consumer orientation. Customer wants must be recognized and satisfied effectively.  This definition suggests that marketing is business dynamic process. It clearly points out that marketing is not any activity, but it is the result of interaction of many activities.  The satisfaction of consumer wants is most important. The marketing is incomplete without the satisfaction of consumer wants completely.  Marketing activities should be carried out with maximum effectiveness and at the minimum cost. Marketing must maximize profitability sales over a period.  Thus, it can be stated that marketing is the process by which the products are made available to ultimate consumer from the place of manufacturer. Marketing consists of all those activities which are meant to ensure the flow of goods and services from the producer to the consumer.
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