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Definition of Marketing Marketing is essential ingredient for a successful business. It is aimed to meet the needs of the current and potential customers. Marketing is defined as 'The management process responsible for identifying, anticipating, and satisfying customer requirements profitability.' Many of the key words above can be defined as: * Management process- The level of importance of marketing decisions. In order for marketing to be successful it needs managerial input as requires constant information gathering and data analysis, in order for a decision to be made. * Identifying- involves answering questions such as 'how do we find out what the consumers requirements are?' and 'how do we keep in touch with their thoughts and perceptions about our goods or services?' * Anticipating- how consumer requirements change over time, due to them becoming richer etc. * Satisfying- meeting customer requirements, such as the right goods, right price, right time and the right place. * Profitability-...

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