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Companies focus on sales and advertising only after all other factors of marketing have been determined. This unit will teach you that marketing departments focus on a set of core principles, most of which are summarized by the 4 Ps (product, price, place, and promotion). The 4 Ps are also known as the marketing mix.
Marketing is the management process for identifying, anticipating and satisfying customer requirements profitably. The Chartered Institute of Marketing (CIM). Accessed 2012. There are many definitions of marketing. The better definitions are focused upon customer orientation and the satisfaction of customer needs.lso see the Philosophy and Theory of Marketing. Marketing is the social process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. Kotler and Armstrong (2010).