The American Marketing Association defines marketing as a process which includes planning and implementing such things as the development, pricing, promotion, and distribution of ideas, goods, and services in such a way as to create an exchange which will satisfy both individual and organizational objectives. One normally thinks of marketing as the successful selling of a product; and, of course, that is one element. But as the definition suggests, it is also much more.

Traditionally, the marketing function is often expressed in terms of what are called the 4-Ps: product, promotion, price, and place. While not every scholar agrees that these four terms accurately capture the process (e.g., "distribution" is often substituted for "place"), there is general agreement that this is an effective way to provide an overview of what the function seeks to achieve and why it is important to virtually all organizations.