Marketing can sometimes be the largest expense associated with producing a product, expenses it may account for about one-third of a product's priced--about the same as the ingredients used to make the soft drink itself.

Marketing is the interface between producers and consumers. It's  function in the organization is being responsible  is making money and delivers satisfaction to the customers makes marketing a great career.

A social and managerial process by which individuals and groups obtain what they want and need through creating, offering, and exchanging products of value with others,

Anything that can satisfy need/want

It is the satisfaction of the customer when he owns the product and can use it at the lowest possible cost.

The process of obtaining a desired product from someone by offering something in return.

Other way party  called in Marketer

The process whereby the seller and the buyer join in strong personal, professional and mutually profitable relationship over a time

It could also be interpreted as the worth of something, not necessarily tangible products either both products and services.

Focus on cooperative and collaborative relationship between the firm and its customers.

Also known as market penetration rate.

Improving existing products to invigorate an existing market or create new products that the market seeks.

Encouraging management to think ahead systematically

Helping the company to anticipate and respond quickly to environmental changes and sudden developments

A well-written plan can play a pivotal role in your small business's growth and success because it tells you and your employees how best to respond to opportunities and challenges.

Consist of analyzing marketing opportunities, research and select target markets, marketing design strategies, plans marketing programs and organize, implement and control the marketing effort.

Provides a clear, objective view of situation of your business, your current and prospective customers, industry, and your company's position in the market place.

Set measurable goals

Put plan into action

A statement explains why a company is in business and how it can benefit consumers. sometimes, the mission statement is aspirational, motivating staff and inspiring customers.

Changes in environment create new opportunities and eliminate old ones, and the marketing environment is always changing.

The collection and interpretation of information about forces, events and relationships that may effect an organization.

The marketing management is to attract and build relationships with customers by creating customer value and satisfaction.

Location

Monopoly

Rapidly changing aspect of the marketing environment consist of using different platform of social media.

Agencies involve in marketing affairs.

A market never one stable condition

A world called “global village” that communication and technology have made the world smaller, so that almost everyone everywhere wants all the things they have heard about, seen or experienced.

A tax levied on the goods entering country