Managing Profitable Customer Relationship
MARKETING
Marketing is an art of selling productsThe aim of marketing is to know and understand the customer’s needs so well that the product or servicefits him and sells itself.The term marketing has changed and evolved over a period of time, today marketing is based around providing continual benefits to the customer, these benefits will be provided and a transactional exchangewill take place.Marketing is a social and managerial process by which individuals and groups obtain what they need andwant through creating, offering and exchanging products of value with others.Philip Kotler defines marketing as
'satisfying needs and wants through an exchange process'
Within this exchange transaction customers will only exchange what they value (money) if they feel thattheir needs are being fully satisfied, clearly the greater the benefit provided the higher transactional valuean organization can charge.Marketing is used to create the customer, to keep the customer and to satisfy the customer. With thecustomer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business ManagementMarketing is not about providing products or services it is essentially about providing changing benefits tothe changing needs and demands of the customer Thus
Marketing
means
•
Understanding and responding to customer needs,
By M.A.S.Hussain
3
UNIT -
I
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