Marketing - Research Article from Encyclopedia of Business and Finance

This encyclopedia article consists of approximately 11 pages of information about Marketing.
This section contains 3,006 words
(approx. 11 pages at 300 words per page)
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Marketing

The term market is the root word for the word marketing. Market refers to the location where exchanges between buyers and sellers occur. Marketing pertains to the interactive process that requires developing, pricing, placing, and promoting goods, ideas, or services in order to facilitate exchanges between customers and sellers to satisfy the needs and wants of consumers. Thus, at the very center of the marketing process is satisfying the needs and wants of customers.

Needs and Wants

Needs are the basic items required for human survival. Human needs are an essential concept underlying the marketing process because needs are translated into consumer wants. Human needs are often described as a state of real or perceived deprivation. Basic human needs take one of three forms: physical, social, and individual. Physical needs are basic to survival and include food, clothing, warmth, and safety. Social needs revolve around the desire for...

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This section contains 3,006 words
(approx. 11 pages at 300 words per page)
Buy the Marketing Encyclopedia Article
Copyrights
Macmillan
Marketing from Macmillan. Copyright © 2001-2006 by Macmillan Reference USA, an imprint of the Gale Group. All rights reserved.
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