This document discusses key concepts in marketing management including the changing role of marketing, the 4 Ps of marketing, and the components of an effective marketing plan. It explains that marketing has shifted from a focus on physical efficiency to selling and adoption of a marketing approach. The marketing plan involves analyzing the current market situation, identifying opportunities and issues, developing a marketing strategy, and implementing and controlling the plan. An effective marketing plan with a clear business purpose and objectives can help firms achieve higher returns.