Lesson 1, Topic 1
In Progress

Introduction

Lakshmi Datti December 23, 2021

The goal of marketing is to identify and meet human and social needs. “Meeting needs profitably” is one of the shortest good definitions of marketing. For instance, when Google realized that people needed to access information on the Internet more effectively and efficiently, it built a robust search engine that categorized and prioritized inquiries. When IKEA realized that customers desired good furniture at a reasonable price, they created it.

The American Marketing Association defines marketing as “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.” Coping with these exchange processes, marketing management takes place to manage and facilitate the exchange process and achieve desired responses from all parties. Marketing management, thus, was defined as the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.