Marketing Marketing is one of the most important functions of any business. Marketing is the discipline required to understand customers needs and the benefits they seek. For marketing there is not one commonly agreed definition. In essence marketing consists of a social and managerial process by which products, be they goods or services and value are exchanged in order to fulfil the needs and wants of individuals, groups and businesses. The two major objectives of marketing are the recruitment of new customers and the retention and expansion of relationships with existing customers. Marketing methods are informed by many of the social sciences including economics, psychology and sociology. Marketing is often seen to exist on two levels, strategic marketing and operational marketing. Strategic marketing attempts to determine how an organisation competes against its competition in a market place. In particular, it aims at generating a competitive advantage relative to its competitors. Operational marketing executes marketing functions to attract and keep customers and to maximise the value derived from them, as well as to satisfy the customer with prompt services and meeting the customers expectations. Operational marketing includes the determination of the marketing mix. The marketing mix is often viewed in terms of the four P’s. Product – this aspect of the marketing mix deals with the actual products or services. Pricing – this refers to the process of setting a price. Promotion – this includes various marketing tactics including advertising, sales promotion and direct marketing. Placement – refers to how the product or service gets to the customer. | 
