Final answer:
Marketing involves promoting buying or selling of products or services, creating customer value, and identifying opportunities in the market, and is guided by ethical considerations.
Step-by-step explanation:
Marketing can be broadly defined as activities conducted to promote the buying or selling of products and services. It involves not just the simple act of selling, but also encompasses identifying and meeting human and social needs, creating value for the customers, and identifying market opportunities. These elements help businesses to not only connect with their audience but also to sustainably grow in the competitive market environment. By focusing on customers' needs and wants, businesses can develop products and services that command consumer interest and loyalty. Additionally, through ethical practices outlined in a code of ethics, businesses aim to operate in a manner that is respectful to both legal standards and social expectations.