Today, marketing is defined as the delivery of customer satisfaction that is also linked with a profit. Marketing more than any other business function, deals with many customers and products. Marketing motivates everyone in the marketing business to produce well-defined products for its customers. Marketers that exert a high level of performance provide more performance for their customers from a product. Marketing provides abundance of products in nearby shopping malls and other shopping centers to fulfill the customers wants and needs. Behind marketing, there is a massive network of people and activities competing for the attention of the consumer and their purchasing dollars. Very many businesses and government leaders in most of the nations are eager to learn more about the needs, wants, and demands of marketing. In marketing today, the most basic concept is that of human needs which are categories of felt deprivation. The human needs include basic physical needs for food, clothing, warmth, and safety.
Without the physical needs, the human make-up would not be complete. Also, in Marketing, social needs for belonging and affection applies to the needs of humans around the world. Lastly, the individual needs satisfies and completes the Marketing circle.
Marketing Products and Services.
Many people satisfy their needs and wants with products and services. As stated in Marketing 2003 edition "A product is anything that can be offered to a market to satisfy people's needs or wants." The basic concept of a product is not limited to physical object-anything capable of satisfying a need can be called a product. Services, on the other hand, are activities and benefits that are offered for sale and are essentially tangible resulting in no ownership of anything.
Value, Satisfaction, and Quality.
According to Dr. Amico Zickmund, Professor at Harvard University, between the customer gains from owning...