What is the art and science of choosing target markets and building profitable relationship with them?

Marketing is an organizational function and a set of processes for creating, communicating and delivering values to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Thus we see Marketing management as the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value.

Marketing  is a social process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others.

Managers sometimes think of marketing as “ the art of selling product” but selling is only the tip of the Marketing iceberg. 

Peter Drucker, a leading management theorist puts it as:-

There will always, one can assume, be need for some selling. But the aim of marketing is to make selling

Marketing is an organizational function and a set of processes for creating, communicating and delivering values to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Thus we see Marketing management as the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value.

Marketing  is a social process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others.

Managers sometimes think of marketing as “ the art of selling product” but selling is only the tip of the Marketing iceberg. 

Peter Drucker, a leading management theorist puts it as:-

There will always, one can assume, be need for some selling. But the aim of marketing is to make selling superfluous. The aim of Marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed then is to make the product or service available.

The aim of Marketing management is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed then is to make the product or service available

MKT Chapter 1

A) marketing management B) positioning C) segmentation D) selling E) differentiation

Answer: A