Marketing involves creating and exchanging products of value to satisfy needs and wants. It uses a marketing mix of 4Ps - product, price, place, and promotion. The 4Ps include aspects like a product's quality, price lists and discounts, distribution channels and locations, and promotional activities like advertising.

2. Marketing - Definition
Marketing is a societal process by which
the individual and group obtain what they
need and wants through creating, offering
and exchanging the product or services of
value with others.

3. Marketing Mix
It is a set of marketing tools that the firm
use to pursue its marketing objectives in the
target market.

4. Mc Carthy classified these tools in to 4 broad
group that, he called the 4 “Ps” of marketing.
Product
Price
Place
Promotion

5. Product : Quality, variety, design, features, brand
name, packaging, size of the product.
Price : List price, discount, allowance, payment
period, credit term.
Place : Channel, coverage (National, world wide,
MNC), assortment, Location, Inventory and
Transportation.
Promotion : Sales Promotion, Advertising, Public
relation, Sales force and Direct marketing.