From Prof SameerKulkarniFor Chanakya, Mumbai-India
Marketing is the process of planning and executingthe conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges thatsatisfy individual and organizational objectives.
Marketing is an organizational function and a set of processes for creating, communicating anddelivering value to customers and for managingcustomer relationships in ways that benefit theorganization and its stakeholders (AMA, 2004)
The Concept of Exchange
Two or more parties are involved
Each seeks value to satisfy needs
Each is willing to offer something of valueto the other