Marketing is not just about selling or advertising, contrary to popular belief. It's a comprehensive business philosophy that is all about identifying and satisfying consumer needs or demands. To succeed in marketing, a business should focus on understanding its customers, creating value for them, and delivering that value profitably.

Several globally recognized definitions of marketing exist, highlighting its multifaceted nature:

• The Chartered Institute of Marketing defines marketing as: "The management process involved in identifying, anticipating and satisfying consumer needs profitably."
• The American Marketing Association describes marketing as: "The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."
• Kotler (1994) summarized marketing as: "Meeting the needs of your customer at a profit."

These definitions all emphasize that marketing is about understanding the needs of customers and meeting them in a way that is profitable for the business.

The core principle of successful marketing is about delivering the right product to the right customers at the right price at the right time. It comprises four key elements:

• Right Product: Identify a product or service that meets the needs of your target audience. For example, Apple's iPhone meets the need for a high-quality smartphone with a sleek design and numerous functionalities.
• Right Customers: Target a specific audience that is more likely to purchase your product. Using our iPhone example, Apple targets tech-savvy individuals who are willing to pay a premium for high-quality electronics.
• Right Price: Set a price that reflects the value of the product and is acceptable to your target audience. iPhones are priced at a premium, reflecting their perceived value and quality.
• Right Time: Time your product launch or marketing campaign to coincide with when your target audience is most likely to purchase. Apple often releases new iPhone models just before the holiday shopping season, when consumers are more likely to splurge on high-ticket items.