LO $1-1$ Describe a marketer's role in creating, communicating, and delivering value.

Marketing is an organizational function and set of processes for creating, communicating, and delivering value to customers. Marketers manage customer relationships in ways that benefit the organization and its stakeholders. To create value, a new good or service must satisfy a perceived marketplace demand. The marketer then communicates this value to potential customers. A company's supply chain is critical in delivering value. Members of the supply chain can include suppliers, manufacturers, wholesalers, distributors, retailers, transportation companies, and other groups, depending on the industry.