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What is Marketing?

Marketing refers to various activities that a business performs to advertise and sell various products or services to customers. Marketing uses the “business mix” – also called the four P’s product, price, location, and marketing. It includes the process of discovering who will buy what, how to get it to them, how much to sell it and where to sell it.

A marketing firm designs advertising and marketing campaigns in which it attempts to make contact with potential consumers, and evaluate responses to the campaigns. The marketing manager is usually concerned with the identification of customers who will become paying customers. They also try to determine what proportion of the market should be approached for the sale of a product or service, and to establish the costs involved in carrying marketing activities. Marketing undertakings include sales promotion, product promotion, the conduct of promotions, the conduct of public relations, and research and analysis.

The four Ps are used in marketing: price, position, market, and persuasion. All other marketing refers to these four Ps in marketing, and attempts to influence the buying decisions of consumers. Marketing is influenced by the economy, by public opinion, and by the attitudes and behavior of consumers.