The goal of marketing is to create products and services that deliver value in a way that satisfy customers needs and wants and sell them profitably.

American Marketing Associations defines marketing as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Creating is the process of collaborating with suppliers and customers to create offerings that have value. Communicating is the acting of describing those offerings, as well as learning from customers. Delivering is getting those offerings to the consumer in a way that optimizes value. Exchanging is the trading value for those offerings.

Products are goods and services which are offered to the prospective customers. Promotion is communicating to the customers the products and services offering. Place is a point where the customer can purchase a product. Price is the monetary amount charged for the exchange of products through transaction. Value is the benefits that the buyers receive by purchasing and consuming a company’s offering. Marketers seek to satisfy customer wants and needs by selling products and services profitably.

Not all company operates in market oriented. There are companies that operate using production oriented,. Production oriented companies seek to compete through product innovation cost reduction, thinking that good products would sell themselves. There are also companies that operate using selling oriented approach. These companies believe that they can only sell their products and services through intensive advertising and selling efforts. To be competitive a company must have value proposition by creating products and services that have great value for the customers to satisfy customers wants and needs. Company creates products services at certain prices to the customers which is called company’s offerings.

Communicating is the means of describing the offering and its value to your potential and current customers, as well as learning from customer’s wants and needs and how to satisfy them. Marketing communication can also include educating potential customers about the value of an offering, or simply creating awareness about the avalability of products and services that can satisfy the customer’s needs and wants, and making it easy for the customers to obtain the products and services. Companies must also seeks feedback from the current customers for the future delevopment of the current products and services. Interative dialog between companies and customers is essential strategy to be successful.

American Marketing Associations defines marketing as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Creating is the process of collaborating with suppliers and customers to create offerings that have value. Communicating is the acting of describing those offerings, as well as learning from customers. Delivering is getting those offerings to the consumer in a way that optimizes value. Exchanging is the trading value for those offerings
Quality Assurance