1. identify definitions of marketing and the implications of the differences
   1. Marketing was about :
   2. 1. Flow of goods and services from point of production to point of consumption (1938)
   3. 2. Pricing, promotion and distribution of ideas, goods and services to create exchange. (1985)
   4. 3. Creating, communicating and delivering value to benefit organisations. (2004)
   5. 4. Creating, communicating, delivering and exchanging offerings that have value to society, (2007)
   6. 5. Create value for customers and building strong customer relationships in order to capture value . (2016)
2. Good Dominant Logic: Vargo and Lusch (2004)
   1. Marketing initially started with a focus on distribution and exchange of commodities, where units of output are seen as central components of exchange. This logic emphasizes tangible outputs and discrete transactions.
3. Service Dominant Logic (Vargo et al., 2008).
   1. Customers do not buy goods or services; rather they buy offerings, which provide services to the customers and yield value. This logic saw intangibility, exchange processes and relationships as being more important. The ability to customize offerings, and recognize that the consumer is always a co-creator of value.
4. Wilkie and Moore (2012) the development of marketing thought can be divided into four eras:
   1. First era: (1900–1920):
      1. Founding the field. Economists had been focused on production and attention was needed on distribution.
   2. Second era: (1920–1950):
      1. Formalizing the field Packaged goods delivered by new retailing concepts like supermarkets. Supplying the market, creating opportunities for exchange and undertaking facilitating functions
   3. Third era: (1950–1980):
      1. Paradigm shift discipline evolved into marketing management (the 4Ps), with an emphasis on decision-making and serving customers.
   4. Fourth era: (1980-Present):
      1. Relationship marketing and the market orientation emerged, which were not wholly grounded in microeconomics, the discipline which had initially served as the basis for marketing theories.
5. Exchange
   1. Restricted Exchange
      1. This involves two party reciprocal relationships (e.g. the customer and the salesman), one of whom sells something to the other in return for money.
   2. Generalized exchange
      1. This involves at least three actors. The benefit flows between the parties may be indirect but there is an exchange of interest.
   3. Complex exchange
      1. : a two way exchange process happens here, can be used in distribution channels as they sell to the retailers and they sell to consumers forming a two way communication
6. Designing a Customer Value-Driven Marketing Strategy
   1. Production Concept
      1. Consumers will favor products that are available and highly affordable.
   2. Product concept
      1. Consumers favor products that offer the most quality, performance, and features.
   3. Selling concept
      1. Consumers will not buy enough of the firm’s products unless the firm undertakes a large-scale selling and promotion effort.
   4. Marketing concept
      1. Know the needs and wants of the target markets and deliver the desired satisfactions better than competitors.
   5. Societal concept
      1. Marketers follow the marketing orientation also take into account present and future customer welfare, as well as the welfare of the environment
7. Measuring market orientations
   1. Intelligence generation
      1. involves the firm collecting information about customer needs and there should be a number of different departments doing this.
   2. Intelligence dissemination
      1. involves the firm collecting information about customer needs and there should be a number of different departments doing this.
   3. Intelligence responsiveness
      1. involves the firm collecting information about customer needs and there should be a number of different departments doing this.
8. Marketing Problems
   1. Operational marketing
      1. problems involve working with existing opportunities; for example, by targeting the product to a specific segment of consumers.
   2. Analytical marketing
      1. problems are related to the market structure in which a firm operates, and its effects on the firm’s marketing approach.
   3. Normative marketing
      1. problems are those which concern themselves with how things ‘should be’. An example of this is the emergence of corporate social responsibility and ethical marketing (‘no logo’ movement).
   4. Strategic marketing
      1. problems involve evaluating the needs of customers and evaluating how the company can provide a solution to this need.
9. changes between the definitions
   1. Marketing is a management process.
   2. Marketing is about giving customers what they want.
   3. In the AMA 1995 version, marketing is about exchange (namely, of ideas, goods and services).
   4. The AMA definition also describes the ways in which marketing can stimulate exchange (namely, through conception, pricing, promotion and distribution).
10. Markerting Myopia
    1. The term 'marketing myopia' was first expressed in a famous article of the same name written by Theodore Levitt for the Harvard Business Review in 1960. In 'Marketing Myopia,' Levitt argued that many companies incorrectly take a shortsighted approach to marketing, viewing it as merely a tool for selling products. Instead, he argued that companies should look at marketing from the consumer's point of view. For example, a company that sells hiking boots should not define its marketing in terms of sales of hiking boots, but market itself as a company concerned with outdoor exploration and adventure.