1. What is marketing?


Exchange: buying and selling

Distribution: transport and storage

Marketing mix: Product, Price, People, Promotion????

2. Evolution of marketing

  • Production orientation: Take orders-> Distribute goods
  • Sales orientation: Increase advertising->Enlarge sales force->Develop sales techniques
  • Customer orientation->Determin customer needs->Develop goods and services to fill needs

The marketing concept is a business philosophy that involves the entire orgnization in the process of satisfying customers needs while achieving orgnizational goals.

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