ABSTRACT
This chapter reviews the main concepts pertaining to the marketing field and that are relevant for project managers. According to the American Marketing Association, marketing is “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.” The skills required for the marketing field include a strong mathematical and analytical sense, sensitivity to market agents, imagination, and initiative. The vast majority of people have an ambiguous understanding of what marketing is; many have preconceived ideas, or else do not grasp its full scope. Marketing science deals with sellers and buyers, and, just like economics, supply and demand as well as satisfaction, utility, product substitutes, and risk. Marketing science rests on a certain number of models, each quite relatively simple. One of those models is what marketing professionals call the 4Ps of marketing.
