This document defines key concepts in marketing and marketing management. It discusses the importance of marketing, its scope, and fundamental concepts. Marketing is defined as creating and delivering value for customers and managing customer relationships. Marketing management is choosing target markets and growing customer relationships through superior value. The document outlines concepts like segmentation, targeting, positioning, and the marketing mix. It also discusses how marketing management has evolved with a focus on customers, integrated marketing, and the new 4Ps of people, processes, programs, and performance.