Marketing is not just advertising or selling. It is a complete business process that starts much earlier—by understanding customers and ends with customer satisfaction and long-term relationships.
In practical life, marketing answers questions like:
A good student answer connects marketing with value creation and exchange.
Marketing is the process of identifying customer needs, designing offerings, communicating value and delivering satisfaction through exchange.
A commonly accepted idea (Kotler-style):
Key point: marketing focuses on customers and relationships, not only on selling.
Understanding these terms makes marketing theory easy:
Needs: basic human requirements (food, safety, belonging).
Wants: specific forms of needs shaped by culture and personality.
Demand: wants backed by ability and willingness to pay.
Value: customer’s perception of benefits vs costs.
Satisfaction: how well the product’s performance matches expectations.
Marketing covers a wide scope:
Marketing activities include:
Marketing philosophy changed as markets became competitive:
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Scope of marketing is wide and includes goods, services and even ideas. Any three areas with examples are:
It also includes experience marketing (tourism/events) and marketing of people/places (celebrity branding, city branding).
Marketing concept states that an organisation achieves its goals by identifying the needs and wants of a target market and delivering satisfaction better than competitors.
Main elements:
Thus, marketing concept focuses on value creation rather than pushing sales.
Marketing management is “planning, organising, controlling and implementing of marketing programmes, policies, strategies and tactics designed to create and satisfy the demand for the firms' product offerings or services as a means of generating an acceptable profit.”
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Marketing is not just advertising or selling. It is a complete business process that starts much earlier—by understanding customers and ends with customer satisfaction and long-term relationships.
In practical life, marketing answers questions like:
A good student answer connects marketing with value creation and exchange.
Marketing is the process of identifying customer needs, designing offerings, communicating value and delivering satisfaction through exchange.
A commonly accepted idea (Kotler-style):
Key point: marketing focuses on customers and relationships, not only on selling.
Understanding these terms makes marketing theory easy:
Needs: basic human requirements (food, safety, belonging).
Wants: specific forms of needs shaped by culture and personality.
Demand: wants backed by ability and willingness to pay.
Value: customer’s perception of benefits vs costs.
Satisfaction: how well the product’s performance matches expectations.
Marketing covers a wide scope:
Marketing activities include:
Marketing philosophy changed as markets became competitive:
Exam-friendly line: Selling focuses on seller’s need to convert product into cash; marketing focuses on customer’s need satisfaction.
Marketing mix means the set of controllable tools used to achieve marketing objectives.
Example (fast food brand):
Marketing environment includes internal and external factors that affect the company’s ability to serve customers.
Two levels:
Exam tip: give 1–2 examples for each to score full marks.
PESTLE explains macro forces:
Example: Plastic ban (legal/environmental) forces brands to shift to paper packaging.
SWOT helps connect environment to strategy:
SWOT is not the environment itself; it is a summary of internal/external analysis.
If these notes helped you, a quick review supports the project and helps more students find it.
Marketing concepts evolved with changes in competition and customer expectations:
Thus, marketing evolved from product/production orientation to customer orientation and then to society and sustainability orientation.