Marketing Notes

Jun 29th, 2015
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Gandalf (Wizard) shared his notes on Marketing. So, here we are sharing the same with you.

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Marketing NotesHello Readers,One of our ardent reader,Gandalf (Wizard)forwarded us his notes on Marketing. So, here we are sharing the same with you.MARKETING:Marketing is a social and managerial process through which needs and wants of individual/organisation are satisfied by the exchange of goods and services.NEED:Need can be defined as something that is necessary for survival.Ex:Drinking water when thirsty is a need.WANT:It can be called as different ways of satisfying need.Ex:Drinking coca-cola(or frooti) when thirsty(options avail.)Selling works on PUSH strategy,whereas marketing works on PULL strategy.Selling is always a subset of marketing,marketing is a superset.Sales related with short term relations and marketing focuses on long term relations.Purpose of selling is to make profit immediately.(Ex: general stores)Purpose of marketing is to make customer satisfaction and to maintain long term relations.(Ex:DELL service)Customer:A customer is the recipient of good/service/idea obtained from a seller.Consumer:The one who consumed or utilises good/product is called as consumer. A customer may or may not be a consumer.Ex:A father pu

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