What is Marketing? Meeting needs profitably Marketing deals with identifying and meeting human and social needs AMA (American Marketing Association) Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders 2008-3-5 Marketing Management ( UG)2008-3-5 Marketing Management (UG) 4 What is Marketing? • “Meeting needs profitably” – Marketing deals with identifying and meeting human and social needs. • AMA (American Marketing Association) – Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders