Marketing
Marketing
20th Edition
ISBN: 9780357033791
Author: Pride, William M
Publisher: South Western Educational Publishing
Question
100%
Book Icon
Chapter 1, Problem 1DRQ
Summary Introduction

To discuss: The term marketing.

Expert Solution & Answer
Check Mark

Explanation of Solution

Marketing is the process that contains creation of goods, fixing prices, distribution of the goods, and promotion of the goods and services, and ideas in order to enable satisfying exchange relationship among the customers and for maintaining a good stakeholder relationship in the dynamic environment.

Person X views on marketing:

Marketing refers to the set of institution, activity, and process of communication, creating, exchanging offerings, and delivering, which has the values of clients, customers, society and partners at larger.

The important outcome in marketing is exchange. It has five conditions to be satisfied.

  • The exchange must have at least of two parties.
  • They both should have something of value for exchanging.
  • They must be communicable and capable of delivery.
  • The parties have the option either to accept and reject the proposal.
  • Both the party should believe that it is desirable and appropriate to deal with each other.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Explain the marketing orientation with examples. According to you which is the most important orientation.
What is marketing? And what are your learnings about it?
What is the objective of marketing? What three ways will help it achieve this objective?
Knowledge Booster
Background pattern image
Recommended textbooks for you
  • Text book image
    Marketing
    Marketing
    ISBN:9780357033791
    Author:Pride, William M
    Publisher:South Western Educational Publishing
Text book image
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing