Outline an understanding of the global competitive environment and the changing marketing practices.

The role of marketing in a business is to identify and then communicate the value of the business’s products or services to potential customers. The goal of marketing is to generate sales by creating demand for the business’s products or services. Marketing segmentation, target marketing, and product positioning are all strategies that businesses use to create demand for their products or services. Marketing also creates value for customers by providing information about the products or services that the customer is interested in, and by delivering the products or services that the customer wants and needs. Marketing also manages customer relationships by providing customer service and by developing long-term relationships with customers.