Question

What is marketing explain its core concepts?

Answer 1

The core concept of MarketingMarketing is a social & managerial process by which individuals & groups obtained what they need & want through creating, offering & exchanging products of value with others.

As marketers, we need to understand the five core customer and marketplace concepts:

Customer needs, wants, and demands;

Market offerings (products, services, and experiences);

Customer value and satisfaction;

Exchanges and relationships; and.

Markets.

Answer 2

Marketing is the study and management of exchange relationships. Marketing is used to create, keep and satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management - the other being Innovation.



The core concept of Marketing

Marketing is a social & managerial process by which individuals & groups obtained what they need & want through creating, offering & exchanging products of value with others. ... Human Needs. It is a state of felt deprivation of some basic satisfaction.