Principles of marketing

• Marketing refers to activities undertaken to promote the buying or selling of a product or service.
• Need is the state of felt Deprivation in a person. It is the basic reason or minimum requirement consumers look for a product or service.
• Want is described in terms of objects that will satisfy a need.shaped by culture or individual preferences.
• Demands refers to human wants that are Backed By Buying Powers
• Market Offerings are combinations of products and services, information,or experiences offered to a market.
• Exchange refers to the act of obtaining a desired object from someone by offering something in return.
• Market refers to the set of all actual and potential buyers of a product or service.
• Customer Value refers to different between the values that the customer gains from owning and using a product and the costs of obtaining the product.
• Customer Satisfaction refers to when the customers expectations of a product are met.
• The goals of marketing are to understand, introduce and innovate, capture, design and implement, develop, build and maintain.
• Traditional approaches to marketing are characterized by a focus on product differentiation and a reliance on mass media.
• Contemporary approaches to marketing, on the other hand, emphasize customer experience and engagement, and use digital channels.