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Marketing is the activity that develos an offering in order to satisfy a customers need
(A need is a state of being where we desire something that we do not possess but want to acquire)
Marketing has become more of a conversation rather than a distraction.

1.Focusing on customer wants and needs so that the organization can distinguish its offerings from those of its competitors
2.Integrating all the organization's activities, including production, to satisfy customers' wants
3.Achieving long-term goals for the organization by satisfying customers' wants and needs legally and responsibly

1. Production era (a focus on manufacturing and production quantity in which customers are meant to choose based on what is most abundantly available)
- Henry Ford- made assembly lines, model T
2. Sales era (hard selling to the customer, who has greater choice thanks to more competition in the marketplace)
-hard sales, Peter Drucker
3. Marketing company era (a strong emphasis on the marketing concept and development of a more comprehensive approach to understanding the customer)
4. Societal marketing era (looking not only at the customer but expanding marketing efforts to include aspects from the external environment that go beyond a company's customers, suppliers, and competitors)
5. Relationship marketing era (is about developing a real and sustainable relationship with the customer.)
- Customer satisfaction
- Relationship marketing
- Customer relationship management

1. At least TWO parties are involved.
2. Each party has something that may be of VALUE to the other party.
3.Each party is capable of COMMUNICATION and delivery.
4. Each party is FREE to accept or reject the exchange offer.
5. Each party believes it is appropriate or desirable to DEAL with the other party.

Exchange- people giving up one thing to receive another thing they would rather have

Customer value- the relationship between benefits and the sacrifice necessary to obtain those benefits

Market segments are groups of individuals, families, or companies that are placed together because it is believed that they share similar needs.

Building relationships- Attracting new customers to a business is only the beginning. The best companies view new-customer attraction as the launching point for developing and enhancing a long-term relationship.

1. Product (A company's offering, whether tangible or intangible, must consider consumer needs and package all aspects to ensure satisfaction.)
2. Price (Setting the right price involves considering competition, customer perception, and economic factors to determine the value of a company's offering and make the best decision for both the bottom line and customers.)
3. Place (The world of channels and logistics involves the strategic decision-making involved in bringing a company's product to market, often prioritizing the marketing efforts over the product itself.)
4. Promotion (Marketing involves visible activities that gain attention and customer faces. Balancing techniques, including advertising, and maintaining a consistent feel and look is a constant challenge.)

- offer products that PERFORM,
- earn trust through LOYALTY programs,
- avoid unrealistic pricing by COMMUNICATING clearly,
- give consumers the facts and the opportunity to LEARN more,
- offer an organization-wide COMMITIMENT to service and after-sales support, and
- partner with consumers to cocreate EXPERINECE that consumers want.

The company aims to provide high-quality products, earn trust through loyalty programs, avoid unrealistic pricing, provide consumers with information, commit to service, and partner with them for personalized experiences.

(persuasion, are grouped into segments)

Marketing myopia: refers to a narrow-minded approach to marketing wherein businesses focus excessively on their products or services rather than understanding and catering to the needs and desires of their customers. (tunnel vision)

“People don't want a quarter-inch drill. They want a quarter-inch hole” - Theodore Levitt
Societal marketing orientation (lead to new movements; recycling, reducing waste, Greta Thunberg)

A part of every company
Marketing is a rewarding career
Marketing provides an important skill set
Part of everyday life


ROI is #1 metric in marketing