INTRODUCTION
As a management function marketing includes such activities as advertising, sales and marketing research. It is also a critical participant in cross-functional processes aimed at generating and launching new products and services that create customer value.
As a philosophy , marketing views the need to understand, anticipate and meet customer needs as the key to organizational success. As such, the customer is the final arbitrator of the value of any product or service offering. Marketing philosophy also extends the concept of customer orientation to internal customers and other stakeholders.
Thus, marketing is concerned with anticipating and understanding human needs and wants and translating those needs and wants into the demand (as economists use the term) for products and services. Those needs and wants are satisfied with products and services. Those products and services in turn have particular functional as well as imagery characteristics. They are made available to...
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Eliashberg, J., Lilien, G.L., Wind, Y.(. (2001). Marketing . In: Gass, S.I., Harris, C.M. (eds) Encyclopedia of Operations Research and Management Science. Springer, New York, NY. https://doi.org/10.1007/1-4020-0611-X_577
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DOI: https://doi.org/10.1007/1-4020-0611-X_577
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