Discuss the meaning, scope and role of marketing function in the exchange process. illustrate with suitable examples?

Question: Discuss the meaning, scope and role of marketing function in the exchange process. illustrate with suitable examples?

Marketing is the process of identifying, creating, promoting, and delivering value to customers in order to meet their needs and wants. Its scope includes everything from market research and product development to advertising and sales. The role of marketing is to facilitate the exchange process between buyers and sellers by creating a demand for products and services, and then satisfying that demand through effective promotion and distribution. For example, a company may use market research to identify customer needs and develop a new product that meets those needs. They would then use marketing strategies, such as advertising and sales promotions, to create demand for the product and make it available to customers through various distribution channels.

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