Financing and Marketing Management

Unit 7 - The Core concepts of marketing

7.1. The Core concepts of marketing
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.
This definition of marketing rests on the following core concepts: needs, wants and demands; products; value, cost and satisfaction; exchange, transactions and relationships; markets; and marketing and marketers.