WHAT IS MARKETING?
Organizational function and set of processesfor creating, communicating, and delivering value tocustomers and for man- aging customer relationshipsin ways that benefit the organization and itsstakeholders.
Activity in which two or more partiesgive something of value to each other to satisfyperceived needs.
How Marketing Creates Utility
Want-satisfying power of a good or service.•
Making a good or service available when