The term marketing refers to a philosophy that stresses customer value and satisfaction.
The marketing concept is a customer-focused approach to business that emphasizes the importance of understanding and meeting the needs and wants of customers.
It is based on the idea that the success of a business depends on creating and delivering products or services that meet the needs of its target market.
The marketing concept holds that businesses should focus on creating value for customers, and that customer satisfaction is the key to success.
This philosophy differs from the production- or sales-oriented approaches, which focus on producing or selling as much of a product or service as possible, regardless of customer needs or satisfaction.