1.8. Concluding Remarks

---

This lesson introduced marketing as concept—the philosophy that motivates modern marketing thinking. Acceptance and implementation of the marketing concept creates customer value. In the pursuit of satisfying customer needs, marketing managers often determine who will perform the marketing functions required to get a product to the market.

Naturally, some of you may have started this class believing that marketing is primarily used to promote new products. While this may sometimes be the case, other functions of marketing are equally important:

• creating opportunities in new target markets,
• discovering new approaches to old problems, and
• finding new ways to share responsibility for marketing functions across the distribution channel.

The concepts you’ve learned in this lesson—like target markets, customer satisfaction, and the four Ps—give you a basic framework for organizing and thinking about the broad issues in marketing. They represent the basic tools that marketing managers use to analyze marketing situations and solve problems.