Marketing is a set of activities that is used to identify the needs of people and to produce products or services to satisfy their needs. It means you have to identify your target market segments and offer quality products and services.
1. According to the American Marketing Association (AMA) Board of Directors:
“Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large”.
2. According to Dr. Philip Kotler:
“The science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services”.