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| Marketing What is marketing? According to the social definition, marketing is societal process by which individuals or groups obtain what they need and want through creating, offering, exchanging products and services of value freely with others. The American Marketing Association offers managerial definition: Marketing (management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. The Scope of Marketing Marketing people are involved in marketing 10 types of entities: goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. Marketing network A marketing network consists of the company and its supporting stakeholders—customers, employees, suppliers, distributors, retailers, ad agencies, university scientists, and others—with whom it has built mutually profitable business . | Marketing What is marketing? According to the social definition, marketing is societal process by which individuals or groups obtain what they need and want through creating, offering, exchanging products and services of value freely with others. The American Marketing Association offers managerial definition: Marketing (management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. The Scope of Marketing Marketing people are involved in marketing 10 types of entities: goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. Marketing network A marketing network consists of the company and its supporting stakeholders—customers, employees, suppliers, distributors, retailers, ad agencies, university scientists, and others—with whom it has built mutually profitable business relationships. The operating principle is simple: build an effective network of relationships with key stakeholders, and profits will follow. Marketplace The marketplace is physical, such as a store you shop in; marketspace is digital, as when you shop on the Internet. Market Market is condition permits buyers and sellers work together. Market research Secondary data Primary data Core Marketing Concepts Needs, Wants, and Demands Market Segmentation Brands and Trademarks Value and Satisfaction Marketing Channels Needs, Wants, and Demands Needs are the basic human requirements. People need air, food, water, clothing, and shelter to survive. People also have strong needs for recreation, education, and entertainment. These needs become wants when they are directed to specific objects that might satisfy the need. Example A consumer in the United States needs food but may want a hamburger, french fries, and a soft drink. A person in Mauritius needs food but may want a mango,