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Marketing refers to activities a company undertakes to promote the buying or selling of a product, service, or good. In 2017, The New York Times described it as "the art of telling stories so enthralling that people lose track of their wallets". It is one of the primary components of business management and commerce. What are the 7 principles of marketing? These seven are: product, price, promotion, place, packaging, positioning and people. As products, markets, customers and needs change rapidly, you must continually revisit these seven Ps to make sure you're on track and achieving the maximum results possible for you in today's marketplace. What are the 3 purposes of marketing? There are three primary purposes of marketing: Capturing the attention of your target market. Persuading a consumer to purchase your product. Providing the customer with a specific, low-risk action that is easy to take.