William Stanton defines marketing as “Marketing is a total system of business activities designed to plan, price, promote and distribute want satisfying products to target market to achieve organisational objective”.
FEATURES OF MARKETING
1. Continuous Process
2. Involves Exchange
3. Goods Services and Ideas
4. Transfer of Ownership
5. Customer Oriented
6. Commercial as well as Non-Commercial Organisation
7. Involves Various Functions
8. Achieve Organisational Objectives
9. Social Responsibility
10. Dynamic Marketing Environment
11. Focus on the Target Customers
12. Marketing Mix
13. Integrated Management Function
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