Written by the Fiveable Content Team • Last updated September 2025
Verified for the 2026 exam
Verified for the 2026 exam•Written by the Fiveable Content Team • Last updated September 2025
Definition
Marketing involves activities aimed at promoting, selling, and distributing products or services to customers. It includes market research, advertising strategies, pricing decisions, and creating relationships with consumers.
This field studies how individuals make decisions regarding the purchase and use of products/services.
Market Segmentation: It's the process of dividing a larger market into smaller groups with similar characteristics in order to tailor marketing efforts more effectively.
Branding: This refers to creating a unique name, design, or symbol that represents a company's products or services and differentiates them from competitors.