Dr. Philip Kotler defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential.

Marketing is a widely used term to describe the communication between a company and the consumer audience that aims to increase the value of the company or its merchandise or, at its simplest, raises the profile of the company and its products in the public mind. The purpose of marketing is to induce behavioral change in the receptive audience. In other words it is a framework, a plan or a strategy. It allows its user to shape the perceived value of a product and make it more appealing to its target. Marketing also encompasses distribution (getting the product in front of the buyer) and pricing.

Social Definition

“Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others”

Managerial Definition

“Marketing is art of selling. Marketing is not just selling. Selling is only the tip of the iceberg!”

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