Executive Summary CH1

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

Marketers can market goods, services, events, experiences, persons, places, properties, organizations, information, and ideas in four different marketplaces: consumer, business, global, and nonprofit.

Today’s marketplace is fundamentally different than in the past, resulting in many new consumer and company capabilities.

Technology, globalization, and social responsibility are creating new opportunities and challenges and significantly changing the management of marketing.

Organizations can conduct business under the production concept, the product concept, the selling concept, the marketing concept, or the holistic marketing concept.

The holistic marketing concept (including relationship marketing, integrated marketing, internal marketing, and performance marketing) is based on the development, design, and implementation of market-ing programs, processes, and activities that recognize their breadth and interdependencies.

Successful marketing management includes developing and implementing marketing strategies and plans, capturing marketing insights, connecting with customers, building strong brands, creating, delivering, and communicating value, and managing the marketing organization within the global economy