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In simple terms, Marketing can be defined as the process of identification/development of good/service which can satisfy the needs of customers and selling it at appropriate place, at right price using different promotional strategies. This definition involves product, place, price and promotion. There four activities are collectively called 4P’s of marketing.
What makes marketing difficult for students to understand is the fact that marketing communication involves many activities. Even sales management is a part of marketing. Further, marketing is not a stand-alone subject. It takes inputs majorly from consumer behavior and psychology. Therefore, if one wants to be a marketing guru, one has to master consumer behavior and psychology. The reason being that these two subjects help in understanding how customer makes decisions related to purchase and what all factors they consider before arriving at purchase decision.
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