The document provides an overview of key concepts in marketing and advertising, including: 1) Marketing involves how a product is designed, produced, branded, priced, distributed and promoted. The four key concepts in marketing are the marketing concept, exchange, branding, and added value. 2) The key players in marketing are the marketer, suppliers, distributors, retailers, and advertisers. There are different types of markets like consumer, business, institutional and channels. 3) The six steps in the marketing process are research, setting objectives, assessing needs, differentiation, developing strategies, and evaluating effectiveness. The marketing mix includes product, place, price and promotion. 4) Advertising agencies can be full-

1. Advertising’s Role in Marketing Part 1: Foundations Chapter 2