Marketing is a widely used term to describe the communication between a company and the consumer audience that aims to increase the value of the company or its merchandise or, at its simplest, raises the profile of the company and its products in the public mind. The purpose of marketing is to induce behavioral change in the receptive audience.
The techniques used in marketing include choosing target markets through market analysis and market segmentation, as well as understanding methods of influence on the consumer behavior. From a societal point of view, marketing provides the link between a society’s material requirements and its economic patterns of response. This way marketing satisfies these needs and wants. A marketing strategy considers the resources a firm has, or is required to allocate in effort to achieve an objective.