Core Marketing Concepts Learning Path

Definition of marketing

Marketing is the act of acquiring, satisfying, and retaining customers, and it is a core part of business management and commerce. It is typically carried out by sellers such as retailers or manufacturers, and it can target other businesses (B2B) or directly reach consumers (B2C). Marketing may also be supported by specialized firms like media, market research, or advertising agencies, and sometimes by trade or government organizations promoting entire industries or regions. A widely used formal definition comes from the American Marketing Association (AMA): marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. This definition has evolved over time—from an earlier focus on directing the flow of goods and services from producers to consumers to a broader emphasis on stakeholders and customer relationships. Related definitions also highlight marketing as a process for building strong customer relationships and creating customer value, and some perspectives frame marketing as a management process that seeks returns to shareholders through customer relationships and competitive advantage.

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Marketing concept and customer needs

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