“Today’s marketing is all about creating customer value and building profitable customer relationships. It starts with understanding consumer needs and wants, deciding which target markets the organization can win, keep, and grow targeted consumers. If an organization does these things well, it will reap the rewards in terms of market share, profits, and customer equity.
Marketing is much more than just an isolated business function – it is a philosophy that guides the entire organization. The marketing department cannot create customer value and build profitable customer relationships by itself. This is a companywide undertaking that involves broad decisions about who the company wants as its customers, which needs to satisfy, what products and services to offer, what prices to set, what communications to send, and what partnerships to develop. Marketing must work closely with other company departments and with other organizations throughout its entire value-delivery system to delight customers by creating superior customer value.”[i]
[i] Philip Kotler and Gary Armstrong, Preface of Principles of Marketing, Twelfth Edition, Pearson Education, 2008