Philip Kotler Definition Of Marketing

Meaning and Definition of Marketing

In common practice “Marketing” means the process of distribution of goods and services. The aim of marketing is to make sales in order to earn reasonable profit for the product. The term marketing embraces all resources and activities necessary to direct and facilitate the flow of goods and services from the producer to the customer.

Philip Kotler defines marketing as “human activity directed at satisfying need and wants through exchange process”. According to him activities such as product development, search, communication, distribution, pricing and service contribute the core of marketing activities.

Objectives of Marketing

Barker and Ashen says, “The end of all marketing activities is the satisfaction

 To suggest solutions by studying the problems relating to marketing.

 To take appropriate activities in the course of action.

Functions and Importance of Marketing

As a country becomes MORE industrialized and urbanized, marketing becomes functionally MORE important. Marketing is a connecting link between the consumer and the producer. It helps in increasing the living standard of people. It helps to increase the nation’s income. Marketing process increases employment opportunity.

Therefore marketing is a total system of business activities designed to plan, price, promote and distribute want-satisfying goods and services goods and services to prevent and potential customer. Thus, greater marketing effort is required in case of MORE industrialized and urbanized societies. So, marketing has to play a vital role not only in profit making, but in non-profit making organization also. It includes buying, selling, transporting, storing, standardization and grading, financing, risk taking and marketing information.

The Exchange

All the behaviour of human beings during the purchase may be termed as “buyer behaviour”. The process whereby individuals decide whether, what, when, how and from whom to purchase goods and services, can be termed as “the consumer behaviour” or “the buyer’s behaviour".

The studies on the spending pattern of consumers over consumption reveal the influences of several economic factors. They are disposable income, size of family, family income etc. with the widespread use of television, circulation of magazines and the increasing mobility of consumers, fashion news is spreading like wildfire

Perception

Perception is the process by which an individual selects, organizes, and interprets information inputs to create a meaningful picture of the world. Perception depends not only on the physical stimuli, but also on the stimuli’s relation to the surrounding field and on conditions within the individual. The key point is that perceptions can vary widely among individuals exposed to the same reality. One person might perceive a fast-talking salesperson as aggressive and insincere; another, as intelligent and helpful. Each will respond differently to the