Principles of Marketing;Name;Principles of Marketing;BUS 330;Date;Marketing defined is the process by which companies create value for customers and build upon that value by forging strong relationships with the customers (Clark, 2007). Marketing involves more than just selling and advertising, but also involves understanding customer needs and developing products and services to satisfy those needs (Clark, 2007). It consists of those efforts which effect transfers in the ownership of goods and care for their physical distribution (Clark, 2007). Marketing grew out of the division of labor manifested through large scale production and the localization of industry (Clark, 2007).;The marketing process involves the following steps: understanding consumers, creating customer values, building strong customer relationships, creating marketing strategy, and capturing the value from customers (Kotler & Armstrong, 2008).
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