In modern marketing thinking, marketing refers to which of the following overall ideas?

Introduction / Context:
There is an important difference between a narrow view of marketing and the modern, broader view. Earlier, many people thought marketing was simply selling or advertising. Today, marketing is seen as a philosophy or way of doing business that focuses on creating, delivering and communicating value to customers. This question tests whether you recognise this broader definition rather than limiting marketing to only sales execution or promotion.

Given Data / Assumptions:

• The options include tasks such as sales execution, campaign planning, advertising and a philosophy of customer value.
• The question asks what marketing refers to in general.
• We assume the modern marketing concept as taught in business courses.

Concept / Approach:
The marketing concept states that achieving organisational goals depends on knowing the needs and wants of target markets and delivering desired satisfactions better than competitors. Therefore, marketing is not just a department or a function but a customer centred mindset that guides product design, pricing, distribution and promotion. In the exam context, a correct definition should mention customer value and satisfaction as central themes.

Step-by-Step Solution:
Step 1: Recall that marketing includes activities related to product, price, place and promotion, all oriented towards customer needs.Step 2: Recognise that selling, campaign planning and advertising are parts of marketing but do not fully define it.Step 3: Option D explicitly defines marketing as a business philosophy that stresses customer value and satisfaction as the central focus.Step 4: Options A, B and C each capture only one aspect of marketing activities.Step 5: Therefore, choose option D as the most accurate and complete description.

Verification / Alternative check:
Standard definitions from marketing textbooks describe marketing as a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging value with others. They also state that marketing is a process of building profitable customer relationships by delivering superior value. Both definitions stress customer value and satisfaction as central, confirming that option D is correct.

Why Other Options Are Wrong:
Option A, execution of sales, refers only to the selling part of the promotional function. Option B, planning sales campaigns, focuses on one planning activity, but does not mention products, pricing or distribution. Option C, advertising and promotions, is limited to communication activities. None of these options capture marketing as a guiding business philosophy centred on customer value.

Common Pitfalls:
Many people use the word marketing as a synonym for advertising, which leads them to choose options that talk only about promotion. Another pitfall is to think mainly of sales and ignore the strategic dimension of understanding customers and designing offerings. When answering exam questions, always look for definitions that include customer needs, value creation and satisfaction rather than narrow operational tasks.

Final Answer:
A business philosophy that stresses customer value and satisfaction as the central focus of all activities.