Kotler, Philip
Armstrong, Gary
2010
Principles of Marketing (21.12.2010)

5
Definition-marketing:
“Broadly defines, marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. In a narrower business context, marketing involves building profitable, value-laden exchange relationships with customers. Hence, we define marketing as the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.”