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What Is Marketing? structures the book and the way you should think about marketing (specifically, we’ll define all the terms in 5Cs, STP, and 4Ps). We will then dig right into the customer perspective: How does a customer (consumer or business) make a buying decision? Marketing is ultimately about

deFining Marketing
If you ask the average person “What is marketing?” he or she might respond in one of the following ways: >> Marketing is sales or advertising. >> Marketers make people buy stuff they don’t need and can’t afford. >> Marketers are the people who call you while you’re trying to eat dinner. These comments are probably all deserved—we have to own up to the fact that our profession, like any other, has its unsavory members. But in this book, we’ll try for a more enlightened view.1 This chapter overviews marketing concepts and terms, beginning with marketing and its vital role in today’s corporation. We then present the marketing framework that 2

Marketing is an exchange between a firm and its customers. serving customers well; to do so, we must understand what customers want. The chapter concludes by briefly describing what to expect throughout the rest of the book.

8134X_01_ch01_p002-013.indd 2

12/15/10 3:58 PM

Marketing is an exchange relationship
Marketing is defined as an exchange between a firm and its customers. As Figure 1.1 indicates, the customer wants something from the firm and the firm wants something from the customer. Marketers try to figure out what customers want, and then they try to figure out how to provide it and make money doing so. Under ideal circumstances, this can be a nice symbiotic relationship. Customers typically don’t mind paying for purchases and often will pay a lot if they really want what they’re about to purchase.

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