Basic Concepts

Definition

According to Kotler

Marketing is the process by which organizations create value for customers to establish a solid relationship with them and thus ensure value exchange

Marketing must be understood in the modern sense of satisfying customers’ needs, and not in the archaic sense of talking and sell.

A marketing strategy might also aim to attract new customers, promising value creating while maintaining the market share already gained satisfying their needs.

Goal

According to Drucker:

The goal or Marketing is to make sales unnecesary

If a company:

Then the product will sell very easily

Sales and advertising are just part of a large marketing mix, a set of marketing tools that work to satisfy customer needs and build customer relationships.

Process

image.png