Who defined marketing as ‘A set of all actual and potential buyers of a product’?

Who defined marketing as ‘A set of all actual and potential buyers of a product’? Correct Answer Philip Kotler

The correct answer is Philip Kotler

Key Points

  • Dr. Philip Kotler defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit.  Marketing identifies unfulfilled needs and desires. It defines, measures, and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.”
  • Others are not predominant scholars of marketing. 

Related Questions

In the question below, a statement is given, followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the suggested course of action logically follow (s) for pursuing. Statement: Led by a strong response to its first super sports utility vehicle Urus, Italian sports car maker Lamborghini is likely to more than double its volumes in India by the end of 2019, a year ahead of its plan, and cross the milestone of 50-60 vehicles per annum. The company, which began deliveries for Urus in India in September, said the vehicle is already booked for the coming six-nine months in India much like the global markets, and it will help Lamborghini get new. customers into its fold. Courses of action: I. The company is planning not to increase the price of its vehicle despite significant rupee depreciation and wants to protect the attractive price of Urus for prospective buyers.  II. The super sports utility vehicle will drive volumes, super sports cars such as Huracan and Aventador will grow by 8-10%. The company feels an 8-10% growth in the segment is a realistic expectation in spite of the challenges.  III. More than 68% of Urus buyers are first-time Lamborghini buyers and makers are sure that this will have a positive rub-off effect on the super sports car segment too.
The four Ps represent the sellers' view of the marketing tools available for influencing buyers. From a buyer's point of view, each marketing tool is designed to deliver a customer benefit. Robert Lauterborn suggested that the sellers' four Ps correspond to the customers' four Cs. The four Cs are . . . . . . . .