MANAGEMENT

Detailed explanation-1: -Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Detailed explanation-2: -Marketing is a set of processes for creating, communicating, and delivering value to customers and for improving customer relationships. It includes everything that organizations do to satisfy customers’ needs.

Detailed explanation-3: -In 2012, Dr Philip Kotler defined marketing as “The science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit.

Detailed explanation-4: -The term “set of institutions” refers to various tools, practices, approaches and mechanisms that we would use in a marketing role.

Detailed explanation-5: -In marketing, the act of obtaining a desired object from someone by offering something of value in return is called the exchange process. The exchange involves: the customer (or buyer): a person or organization with a want or need who is willing to give money or some other personal resource to address this need.