selling and delivering products to people. The four P's of marketing are product, place, price and promotion. Marketing Marketing are activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people. Customer focus It makes an attempt to study the customer needs, and goods are produced accordingly. The business existence depends on human needs. Customer satisfaction A customer expects some services or benefits from the product for which payment is made. If this benefit is more than the amount paid, then the customer is satisfied. Objective-oriented Different objectives are fixed at different levels, but the main objective is to earn profit from business along with the satisfaction of human wants. Marketing is both art and science Art refers to a specific skill that is required in marketing activities of any type of business. Science refers to a systematic body of knowledge, based on facts and principles. Continuous and regular activity Marketing is an activity designed to plan, price, promote and distribute products. At the same time, it also addresses both the current and future consumers. Exchange process Exchange takes place between sellers and buyers. Most of marketing activities are concerned with the exchange of goods. Marketing environment Economic policies, market conditions, and environmental factors, such as political, technological, demographic and international, influence marketing activities. Marketing mix A combination of four inputs constitutes the core of a company’s marketing system—product, price, place, and promotion. Integrated approach Functions such as production, finance, research, purchasing, storekeeping and public relations (PR) are to be integrated with marketing. Precedes and follows production Identifying consumer needs and wants is the primary task of a marketing manager. Production activities are adapted to these consumer needs. Thus, marketing precedes production.