Marketing is the business function that identifies customer needs and wants, deter-

mines which target markets the organization can serve best, and designs appro-

priate products, services, and programs to serve these markets. However, market-

ing is much more than just an isolated business function--it is a phiJosophy that

guides the entire organization. The goal of marketing is to create customer satis-

faction profitably by building value-laden relationships with important customers.

The marketin~ deparrmenr cannot accomplish this goal by itself.,At must team up

closely with other departments in the company and partner with other organiza-

tions throughout its enrire value-delivery sysrem ro provide superior value to cus-

tomers. Thus. marketing calls upon everyone in the organization to "think cus-

tomer" and to do all they can to help create and deliver superior customer value

and satisfaction. As Professor Stephen Burnett of Northwestern puts it, qn a truly

great marketing orgamzarion, you can t tell who s in the marketing department.

Everyone in the organization has to make decisions based on the impact on the

consumer."

Many people see marketing only as advertising or selling. But real market-

ing does not involve the art of selling what you make so much as knowing what

to make! Organizations gain market leadership by understanding consmner needs

and finding solutions that delight customers through superior value, quality, and

service. If customer value and satisfaction are absent, no amount of advertising or

selling can compensate.

Marketing is all around us and we all need to know something about it.

. , . , z .

Marketing is used not only by manufacturing compames, v~holesalers, and retail-

ers. but b3 all kinds of individuals and organizations. Lawyers, accountants, and

doctors use marketing to manage demand for their services. So do hospitals, muse-

ums, and performing arts groups. No politician can get the needed votes, and no

resort the needed tourls:s, without developing and carrying out marketing plans.

Principles of Marketing is designed to help students learn about and apply the

basic concepts and practices of modern marketing as they are used in a wide vari-

ety of settings: in product and service firms, consumer and business markets, profit

and nonprofit organizatmns, domestic and global companies, and small and large

businesses.

People throughout these organizations need to know how to define and seg-

ment a market and how to position themselves strongly by developing need-satis-

fying products and services for chosen target segments. They must know how to

price their offerings to make them attractive and affordable and how to choose

and manage intermediaries to make their products available to customers. And

they need to know how to advertise and promote products.so customers will know

about and want them. Clearly, marketers need a broad range of skills in order to

sense, serve, and satisfy consumer needs.

Students also need to know marketing in their roles as consumers and citi-

zens Someone is always trying to sell us something, so we need to recognize the

methods they use. And when students enter the lob market, they must do "mar-

keting research" to find the best opportunities and the best ways to "market them-

selves" to prospective employers. Many will srart their careers with marketing jobs

in sales forces, in retailing, in advertising, in research, or in one of a dozen other

marketing areas.