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Marketing refers to the process of ascertaining consumer needs, converting them into products and services, and then moving the product or service to the final consumer segment with emphasis on profitability and customer satisfaction, ensuring the optimum use of the resources available to the organization. Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individuals and organizational objectives.

As per Philip Kotler, the marketing guru, marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.

Marketing Concepts:

Need(s), Want(s), and Demand(s)

Marketing VS Selling:

Marketing is the process of creating value for customer and delivering goods and services for earning profit whereas Selling is the process of encoring customers for increasing sales.

The objective of marketing concept is to satisfy customer through goods and services whereas the objective of selling concept is to increase sales of goods and services.

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