The Concept And Process Of Marketing Essay

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1. The Concept and Process of Marketing Marketing can be characterized as a mix of behavioural and management sciences which are driven by instinct, imagination, motivation and transformation. An experimental methodology is needed by marketing to outline more up to date items. It requires expertise for recognizing new channels. Marketing additionally provide a broad certain idea which gives an individual the capacity to make an interpretation of thought without hesitation. Elements of the Marketing Process A company aims to make the profit through marketing processes. Data gathered through market research is used to develop a marketing plan by the marketers by settling on choices about their objective markets, their products in the market and the connection they want to set up with the customers. Many experts have a different ideology about the components of the marketing process. Figure 1 illustrates the key components of the marketing process. Elements of the Marketing Process Figure 1 Source: Made by Student (2012) Needs and Wants: An individual’s "need" is felt when an individual is dispossessed with any of his essential fulfilments. Individuals need nourishment, house to live in, apparels and so forth. Requirements are the essentials of survival. They can 't be built by any marketer. Wants is aspiring for something that fulfils needs. For instance: I am hungry yet I need a burger. The requirement for nourishment is a
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