Marketing is a business function that involves the conceptualizing, producing, pricing, promoting and placing of products that will satisfy customer needs and produce a profit for the company.
There are many decisions that are required in the Marketing process. The Marketing Mix, Product, Price, Promotion and Place are like a recipe for a company. The business has to decide how to use the marketing mix effectively to fit the product, good or service that the business is trying to sell.
Marketing determines the product, both the core and variations of the core product.
The Marketing process must be managed so that the company can continue to satisfy customer needs and make a profit as their products go through the product life cycle. The creation of new products and added utility are required to keep a company in business for the long term.