-Potential consumers (market) fuel the department with information about what they
need or want. Once these needs or wants are discovered, concepts for the
products are made. The marketing program to sell the product must have the right
combination of the four P’s: product, promotion, price, and place.
-Customer Value Proposition
-There are uncontrollable environmental forces that inﬂuence marketing. These
include social, economic, technological, competitive, and regulatory forces.
-Targeted buyers will receive beneﬁts when buying. Companies use these value
strategies to build relationships with their customers, such as best prices, best
products, and best service.
-Relationship Marketing sounds simple, but it takes work.
-3M developed a marketing program for their Post-It ﬂag pen, taking note of
product, price, promotion, and place strategies. Their activity reached the college
student segment and the ofﬁce worker segment.
-They soon developed more versions of these pens, and were featured on the
Oprah Winfrey Show, where they reached a much larger audience.
-This day and age is known as the Customer Relationship Era, because more
organizations take value in developing lasting relationships with their customers.
-Customers used to ﬁnd out about products by seeing them themselves or by word of
mouth. Organizations realized that getting people to talk was a great way to market
their products, among other strategies.
-Marketing also involves ethics and social responsibility. Marketing is not meant to do
harm to audiences or customers.
-Societal Marketing Concept
-Big organizations market products, services, and ideas.
-Ultimate Consumers and Organizational Buyers buy and use what is marketed.