Marketing is the study and management of exchange relationships to create, keep and satisfy customers. The marketing mix, also known as the 4Ps of marketing, includes product, price, place and promotion strategies that are blended together to achieve ideal results. Marketing is important for business success by getting the word out about products and services, increasing sales, building a company's reputation through effective communication, and fostering healthy competition. Marketing plays a key role in businesses by shaping brand image, increasing revenue and profits, and growing and retaining customers.