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Chapter 1

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@HumbleNarwhal

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Questions and Answers

What is the process of marketing according to Philip Kotler?

Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.

What does the term 'market' mean?

Market originates from Latin word 'MARCUTUS' which means a place where buyers and sellers meet for business.

How has the concept of market changed over time?

Buyers and sellers need not meet face to face for transaction, they can meet virtually through e-commerce platforms.

Who is Philip Kotler?

<p>Philip Kotler is a marketing guru.</p> Signup and view all the answers

What is the main goal of marketing?

<p>The main goal of marketing is to ascertain consumer needs, convert them into products and services, and then move the product or service to the final consumer segment with emphasis on profitability and customer satisfaction.</p> Signup and view all the answers