Marketing is the process of getting the right goods or services or ideas to the right people at the right place, time, and price, using the right promotion techniques and utilizing the appropriate people to provide the… This concept is referred to as the “right” principle and is the basis of all marketing strategy.

We can say that marketing is finding out the needs and wants of potential buyers (whether organizations or consumers) and then providing goods and services that meet or exceed the expectations of those buyers.

product — In marketing, a good, service or idea, along with its perceived attributes and benefits, that creates value for the customer. marketing — The process of discovering the needs and wants of potential buyers and customers and then providing goods and services that meet or exceed their expectations. exchange — The process in which two parties give something of value to each other to satisfy their respective needs. capital products — Large, expensive items with a long life span that are purchased by businesses for use in making other products or providing a service.

Be able to explain the marketing concept; explain the difference between customer value and customer satisfaction; explain the four types of competitive advantages and provide examples of each.