Affiliate marketing is a performance-based marketing model where individuals or affiliates promote products or services of a company and earn a commission for every sale or lead they generate. The process involves three key players: the merchant (seller or product creator), the Affiliate Marketing (promoter), and the consumer. Affiliates use unique affiliate links or codes to track their referrals. When a consumer clicks the affiliate link, makes a purchase or performs a specific action, the affiliate is credited.