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The business term "marketing" is a word born of adding the progressive "-ing" to the pre-existing word "market " The American Marketing Association defines marketing as "the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives."
Marketing is composed for 4 fundamental factors known as the 4P: Product, Price, Promotion, and Place. Developing a certain product, pricing and selling it and promoting sales are all included in the realm of marketing. Organizations that grasp the wants and needs of the customers and find ways to meet them ahead of other players in the competitive industries will be able to reach their business goals. In order to do this, contemporary enterprises have to engage in marketing research on a routine basis, catch hold of customer's ever-changing tastes, develop a product that suits the target customer base, establish an appropriate price, and whip up popular demand through advertising and promotion. Also, they have to fulfill that demand by setting up proper distribution channels and engaging in efficient distribution practices. Recently, with the advent of the Internet as a communications tool, and the portal service becoming a de facto trend in information searches, Internet marketing is prospering at an unprecedented pace, setting itself up to dominate 21st century marketing.
Chan Su Park
Doo-Hee Lee
Fang Chi Lu
Gangseog Ryu
Greg M. Allenby
Jae Wook Kim
Jaehwan Kim
Janghyuk Lee
Jinhee Choi