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How would you define marketing?
"Marketing is the performance of business activities that direct the flow of goods and services from producers to consumers."
"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"
"Marketing is the process of planning and execution the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives."
What are the goals of marketing?
"marketing is to find out what people like and do more of it. Marketing is to find out what people don't like and do less of it."
Why do we need marketing?
The Consumer needs something and the suppliers provides goods and services- so marketing gives the information of the supplier to the consumer and the consumer gives money to the supplier.
Old times the consumers needs were only provided by one supplier. It was a simple decision making. The supplier market decided (shortage society) Today it is different, consumer demand marked (affluent society) consumers have multiple suppliers to choose from and make a complex decision about goods and services and where to buy it.
What is the principal of reward? Which rewards exist for the market partners?