Marketing – Philosophy or Function?

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Abstract
This opening chapter seeks to define what might be considered the true essence of marketing: that it is the establishment of mutually satisfying exchange relationships. The modern marketing concept would appear to have undergone at least three major phases of evolution – the emergence of the mass market, the articulation of the modern marketing concept, and the transition from an emphasis upon the transaction to the relationship. The chapter concludes with a review of specific definitions of marketing to document how these have changed over ...

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