Marketing is a management process wherein the goods and services move from the seller to the buyer. It includes four elements. The ‘product’ involves identification, selection and its development. ‘Price’ and its determination is done according to the product quality. Selection of the ‘place’ or the channel of distribution for making the product reachable to the customers. Developing a ‘promotional strategy’ and its implementation for increasing sales of the products and services. The process of marketing is based on customers and the satisfaction of their needs and therefore it is customer oriented. Marketing research is important to understand the requirements of the customers and inculcate creativity and innovation in its processes. The main aim of firms is satisfaction of its customers and earning high profits which can be achieved through proper marketing planning. Marketing helps in improving the standard of living, creates employment opportunities, utility and economic stability.
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