Marketing

Any place (virtual or real) where supply meets demand and thus leading to the formation of prices 

examples

Markets define the framework for marketing practiced by companies: customers, competitors, and other stakeholders are the major factors that determine the scope of marketing activities. 

Companies strive to actively exert a controlled influence on the behaviour of both customers – or potential customers – as well as competitors to the benefit of the company and its stakeholders. 

5 Stakeholders:

3 Types

4 Criterions/ 4 Different mkts 

example 

problem with mkt definition by products

--> railroad business rather than transportation business