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Business organisation and structure





                            Marketing






               4.1   What is meant by marketing?

               Marketing is defined by the Chartered Institute of Marketing as ‘the management
               process that identifies, anticipates and supplies customer needs efficiently and
               profitably.’

               The key emphasis is thus on customer needs:


                    Identifying and anticipating needs – market research

                    Supplying customer needs – product design and

                    Efficiency – distribution

                    Profitability – pricing decisions and promotion
















































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