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The Chartered Institute of Marketing (CIM) defines marketing as a management function: Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably. For marketing to be successful, the needs of the customer and seller have to be met. Kotler and Keller (12e), Marketing Management states that whether exchange actually takes place depends on whether the two parties can agree on terms that will leave them both better off than before. Therefore, to market effectively, the first thing of an organization must do is to identify the needs and wants of its customer...
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