?1.1 EXPLAIN THE VARIOUS ELEMENTS OF THE MARKETING PROCESS
DEFINITION OF MARKETING
K. Lopper et al. (2006) describe Marketing as a means of customer satisfaction. However, Pride and Ferrell(2012) define marketing as a creating, distributing, promoting, pricing process through which goods and services or ideals are exchanged to satisfy customer needs. Meanwhile, the American Marketing Association Board of Directors (October 2007) defines Marketing as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society. While Doyle, P. (2000), p29.
Marketing is the management process that seeks to maximize shareholders' returns by developing relationships with valued customers and creating a competitive advantage. Meanwhile, marketing is when a company produces/renders a particular good or service that he knows that people need or wants and plans how the public member will be aware of that particular goods/service by making an advert, posters, sales promotion, etc.
The Elements of Marketing
The process is referred to "As a set of controllable tools that the firm blends to produce the response it wants in the target market, so it consists of everything the firm can do to influence the demand for its product" Philip Kotler (1997
Marketing Process
Author Philip Kotler (1997) says, "Marketing is not the art of selling what you make but knowing what to make. It is the art of identifying and understanding customer needs and creating solutions that deliver customers' satisfaction and profits, and benefits for the stakeholders. Market innovation is gained by creating customer satisfaction through product innovation, product quality, and customer service. If these are absent, no amount of advertising, sales promotion, or salesmanship can compensate."
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