Marketing involves identifying customer needs, developing products to meet those needs, and communicating with customers about products using the 7Ps framework of Product, Price, Place, Promotion, People, Process, and Physical Evidence. Developing an effective marketing strategy requires understanding customers, competitors, and the market through research. A marketing strategy then plans objectives and targets using the 7Ps to satisfy customers profitably. The strategy must be collaborative, coordinated over time through regular review, and aligned with corporate goals.