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While clearly focused and concise, this definition emphasises the role of marketing in relating to the world outside the organisation. All relationships between the organisation and the outside world need to be managed. There are many other useful and equally acceptable definitions. The one preferred by the British Chartered Institute of Marketing (CIM) is: “Marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitably”. In 1999, Philip Kotler has another definition: “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others”...
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