Marketing Management

This chapter explains the concepts of the marketing paradigm and the frameworks of marketing strategy and marketing mix. It starts by defining the concept of the customer and asking three key marketing questions: “Who are our customers?” “What do our customers value?” “How can we create value for our customers?” Next, the market analysis framework is discussed, including macroenvironment and microenvironment analysis. Finally, the segmentation-targeting-positioning marketing strategy and marketing mix (i.e., the “4Ps” of production, price, place, and promotion) are introduced and their applications are discussed.