INTRODUCTION:
The word marketing is derived from the latin word ‘Marcatus’ which means merchandise ware,
Traffic, trade or a place where business is conducted.
According to Peter F.Drucker,” Marketing is not a function of business,but a view of the entire business,seen as the economic organ to provide goods and services.” In order to understand the role of marketing in an organization,it is essential to understand the meaning of needs,wants and demands.
Objectives:
You should be in a position to:
• Define Needs , Wants and Demands
• Explain the Nature and Scope of Marketing
• Explain various concepts of Marketing