It is internet marketing without your own product. You are essentially marketing the products or services of someone else. You, the affiliate marketer, will make commissions on every single sale you are responsible for. (i.e. if you lead a visitor to a merchant’s website and they make a purchase, you get paid)
There are many different methods and approaches to affiliate marketing so you can go about business in whatever way suits you best depending on your budget and how much time/effort you can invest in your ventures.
If you are new to marketing, i strongly advise using a guide so you can minimize the risks. Many people fall for scams, get stuck, or end up losing a lot of money trying to use a technique that isn’t suited for what they are trying to do. A lot of this can be easily avoided with proper guidance and it can save you a lot of time and money in the long run.
Theres a website called 404 reviews that explains various internet marketing methods along with lots of other useful info about internet marketing in general that can really help you out.