What is marketing? Kotler’s definition of marketing
Definition of ‘Marketing’
What is Marketing: According to Philip Kotler, “The term Marketing is defined as a social and managerial process by which individuals and groups obtain what they need and want through creating, offering and exchanging products of value with others” is known as Marketing.
According to Us ‘Marketing’
”Marketing is defined as the economic process through which goods and services are exchanged with the means of money value”. Here, the term “What is Marketing“ includes all the activities regarding transfer of goods and services from manufacturer to consumers or its perspective buyers. The transactions are taken place with the help of money in this way of defining marketing represents ‘Product Orientation’. (What is Marketing by Philip Kotler)
It is well said that, “marketing is incomplete without the term market”. The term market represents the needs or wants of the potential customers who might be willing and able to engage in exchange of goods and services to satisfy that need or want. Thus, there might be shoe market, Malls, teenager market, Restaurants, labour market, complexes etc. As started earlier on What is Marketing, marketing is an activity that is performed by business and non-business people with equal force.
Thus, besides business, there is also exists the other form of marketing like social marketing, marketing for education, marketing by government organisations etc.