Research shows that no company can succeed today by trying to be all things to all people. It must instead find the unique value that it alone can deliver to a chosen market. Choosing one discipline to master does not mean that a company abandons the others, only that it picks a dimension of value on which to stake its market reputation over the long term. Three distinct value disciplines have been identified, so called because each discipline produces a different kind of customer value. 

 

How market leaders keep their edge

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Marketing is the part of a business that is concerned with the way a product, service or idea is sold. For example, the marketing department of a business thinks of and develops a product, and then decides on the price of the product, the particular place - shops or areas where the product should be sold (distribution) and the promotion - the way the product should be advertised. These four Ps are known as the marketing mix. The word "mix" is used to describe the importance of combining all four elements into a marketing plan for a successful exchange of a particular product, service or idea between manufactures and consumers.

Advertising and marketing

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