MARKETING REVIEW: UNIT 1

“Consumption is the sole end and purpose of all production and the interests of the product ought to be attended to only so far as it may be necessary for promoting those of the customers.”

“satisfying needs and wants through an exchange process.”

“Marketing is the management process responsible for identifying, anticipating, and satisfying customer requirements profitability.”

"marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and the society at large."

refers to conversion of raw materials into products that suit the preferences of a customer so that they do not have to create their desired products themselves.

 refers to ensuring that costumers have full possessions of the product or service at the right time, so this overlaps with time and place utilities. refers to ensuring that costumers have full possessions of the product or service at the right time, so this overlaps with time and place utilities.

refers to the satisfaction derived by customers in availing of products or services on time.

refers to the availability of the product or service at accessible locations.  

process of offering something and getting something in return

agreement between a buyer and a seller to exchange goods or services.