Again, marketing as a concept is associated with a variety of definitions offered by academics and business gurus. The Chartered Institute of Marketing proclaim;
‘Marketing is the management process responsible for identifying, anticipating and satisfying consumers' requirements profitably.’
Marketing covers a variety of tools of which the most appropriate are employed to achieve a particular goal.
Through understanding the market and conducting market research, an organisation can identify the needs and wants of the consumer. With this information the organisation can then attempt to deliver benefits that will enhance or positively contribute to the consumer’s lifestyle; whilst simultaneously ensuring that the satisfaction of these needs results in a healthy turnover for the organisation.
