Core Marketing Concepts


Marketing is so basic that it cannot be considered as a separate function. It is a whole business seen from the point of view of its final result, that is, from the customer’s point of view - Peter Drucker.

According to Philip Kotler, the modern guru of management, “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering and exchanging products of value with others.”

According to Peter Drucker, “The aim of marketing is to make selling superfluous and to know and understand the customer so well that the product or services fits him and sells itself.”

Figure 8.1

A distinction needs to be drawn between the following terms:

1. Responsive ...

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