What is Marketing?

What does the term marketing mean to you? Many people think it means the same as personal selling. Others think marketing is the same as personal selling and advertising. Still others believe marketing has something to do with making products available in stores, arranging displays, and maintaining, inventories of products for future sale.

Actually, marketing includes all of these activities and more. Marketing has two facets. First, it is a philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction. Second, marketing is a set of activities used to implement this philosophy. The American Marketing Association’s definition encompasses both perspectives: “Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchange that satisfy individual and organizational goal”.

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