1.11 Summary

Marketing can help improve the world by providing products and services that solve problems, minimize pain, or increase pleasure for customers. Further, marketing can help grow businesses by driving profitability. Indeed, marketing exchange by using the marketing mix (product, place, price, and promotion) to create, communicate, and deliver value to the firm’s chosen customers. Creating, communicating, and delivering value enables the firm to attract new customers and keep existing customers. Attracting and keeping customers drives profitability for the firm.