Marketing

Marketing is the set of activities involved in creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. It includes market research, product development, pricing, distribution, promotion, and post-sale service to satisfy needs while supporting organizational goals.

Core concepts include the marketing concept, which centers on understanding and meeting customer needs; market segmentation, targeting, and positioning; and the marketing mix, traditionally the four Ps—product, price, place, and promotion—with services often expanded to include people, process, and physical evidence.

The marketing process typically involves researching markets, identifying opportunities, designing and communicating offerings, delivering them through appropriate channels, and gathering feedback to adjust strategies. Key metrics include return on marketing investment, customer acquisition cost, and customer lifetime value.

Historically, marketing has shifted from a production-oriented, mass-marketing mindset to a customer-centric, data-driven discipline. The digital era has broadened channels and measurement while raising considerations around privacy, ethics, personalization, and sustainability as firms seek to balance growth with responsible practices.