Definition of Marketing

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A Definition in author’s view: The definition of marketing has been a strongly debated subject in the new Millennium. If we consider the word to word meaning of marketing than the term “marketing” was derived from its original form of the unrefined Latin “marcatus”, which means to trade or buying/selling goods in market. However the term marketing has changed and advanced over a period of time but the meaning will remain the same no matter how many views and definitions are presented to world in time to time.

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According to above definition; market research, product development, product life cycle, management, pricing, promotion all come under the marketing’ umbrella. Definition by Marketing Gurus . A number of academics have been unsatisfied with the AMA’s and CIM’s marketing definitions while some have agreed to it; in any case it has stirred many debates within the Gurus of Marketing world.

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Successful marketing depends upon considering the key issues including what a company is going to deliver its products or services to the customer; and how it is going to tell its customer about its products and services, which the last definition covers the in the best way. Traditionally, these considerations were known as 4ps-product, price, place and promotion. As marketing became a more sophisticated discipline, three more ‘Ps’ were added i-e people, process mainly for service industries and physical evidence.

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