MANAGEMENT

Detailed explanation-1: -According to Kotler and Armstrong, “Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.” Mareting starts with creating value for customers.

Detailed explanation-2: -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-3: -According to Chartered Institute of Marketing (CIM), marketing is the management process responsible for identifying, anticipating, and satisfying customers’ requirements profitably.

Detailed explanation-4: -According to Kotler & Keller (2012), marketing is how to identify and meet human needs and social needs. One of the simplest definitions of marketing is “meeting profitable needs", that is how to turn a need into a profitable business opportunity.