1. Marketing is the management process of identifying, anticipating, and satisfying customer needs profitably. It involves more than just advertising or selling.
2. Applying a simple marketing framework called the "7Ps" (Product, Price, Place, Promotion, People, Process, and Physical Evidence) allows businesses to identify effective marketing activities and understand when to use them.
3. The 7Ps address key issues for businesses such as what to produce, how much to charge, how to deliver products/services, and how to communicate with customers. Addressing all 7Ps is important for marketing success.