Principles of marketing

Mrketing reversed prior business logic 50 years ago and said«the customer is king», and the companies began to recognizethat it was not just the product that was the most important aspect oftheir business. Companies recognized that consumers had a myriadof choices of product offerings and marketing was responsibleto ensure that the company’s products had the benefits andattributes that customers wanted and were willing to pay for. Today,considering the technology development, which influences everyfunction of the company, the focus of the successful marketingoriented companies has changed from «the customer is king» to«the customer is a dictator!!!».However, and despite the new trends in marketing, like any socialscience, marketing has basic principles, and these principles need tobe considered when making any type of marketing decisions. So, themajor step of a student of marketing, whether it is a young universitystudent or an experienced business executive, is to understandthe principles of marketing, and reading the present book will bethe first step in accomplishing this task. This book describes thesebasic principles of marketing, and while the authors recognize thateach decision may be slightly different from any previous decision,the rules or principles remain the same. The present book presentsthese basic marketing principles and tries to capture the essenceof practical and modern marketing today. Therefore, the purposeof Principles of Marketing is to introduce readers to the fascinatingworld of marketing today, in an easy, enjoyable and practical way,offering an attractive text from which to learn about and teachmarketing.