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What is marketing?
A system of business activities designed to plan, price, promote and distribute want-satisfying products, services and ideas to customers in order to achieve business objectives.
•the role of marketing in the firm and in society.
- IN THE FIRM
- •find out what customers want.
- •marketing links the firm and its customers.
- IN SOCIETY
- •provides greater range of goods and services.
- •identifies customer wants
- •increase employment
- •satisfies customer wants
- •can lead to better quality of life
- •subsidises mass media (eg free local newspaper due to advertising)
- •informs consumers of available products/services
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