What is marketing? Needs, wants and demands...

Topics: Marketing, Need, Want Pages: 3 (897 words) Published: November 25, 2013
The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing: (1) identification, selection and development of a product,

(2) determination of its price,
(3) selection of a distribution channel to reach the customer's place, and (4) development and implementation of a promotional strategy. For example, new Apple products are developed to include improved applications and systems, are set at different prices depending on how much capability the customer desires, and are sold in places where other Apple products are sold. In order to promote the device, the company featured its debut at tech events and is highly advertised on the web and on television. Marketing is based on thinking about the business in terms of customer needs and their satisfaction. Marketing differs from selling because (in the words of Harvard Business School's retired professor of marketing Theodore C. Levitt) "Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariable does, view the entire business process as consisting of a tightly integrated effort to discover, create, arouse and satisfy customer needs." In other words, marketing has less to do with getting customers to pay for your product as it does developing a demand for that product and fulfilling the customer's needs.

Needs
Human needs are states of felt deprivation.Needs are the basic requirements of human being, without these basic requirements like food, clothes and shelter no one can live life in this world. The extended form of needs are health and education which for sure every on basic need in today’s world but they come after food,cloths and shelter. Marketers play no role in creating needs, they are natural default requirements of every human being....
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Marketing: Needs, Wants and Demands Essay
  • Needs, Wants, Demands
  • Does marketing create or satisfy needs? Take a position, marketing shapes or merely reflects needs and wants of consumer? Essay
  • Does Marketing Sharp the Needs and Wants of Customers or Reflect the Needs and Wants of Customers Essay
  • Needs, Wants, Demands Essay
  • What is marketing Essay
  • What Is Marketing Essay
  • Marketing Essay

Become a StudyMode Member

Sign Up - It's Free