5. Itis a process that beginsright at the moment
when an aspiring entrepreneur or business
development manager realizes that there is an
opportunity to build upa business.
arketing
M
What is
?
6. It is an integrated field that needs the
involvementand support of all the other fields
of management.
arketing
M
What is
?
9. Definition of
Marketing
01
02
Itis 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.
It is an organizational function
because it is a core task that is
expectedof a modernorganization,
whether it operates for profit or
not.
11. Examples of Exchange
Transactions
Politicians offer promises and
hope to potential voters in
exchange for their votes that
bring them to office.
TV stations broadcastsoap
operas to homes in exchange for
viewers watching the ads that in
turn would provide profit for the
stations.
12. Examples of Exchange
Transactions
Facebooks offers its services to its million of users for
free in return for the users allowing paid ads to
occasionally show up in theirfeeds.