Marketing Redefined

The generally accepted means of implementing the marketing concept is the model of the marketing mix (or the 4Ps). But despite its almost universal application, this model is highly limited and specific: it was developed in the US, from research on consumer packed‐goods and durables. Recent European research in the areas of industrial and services marketing has revealed both the inadequacy of the old model and the basis for a new definition of marketing. This is geared to what the customer wants from marketing,rather than what is convenient for the company to provide – i.e. it is truly market orientated. At the core of marketing is the establishment and development of long‐term customer relations. This market‐orientated emphasis requires a fresh management approach, seeing marketing less as a specialist function and more as a part of overall management responsibilities. The implications of this, as regards ′part‐time marketers′ and the keeping of promises, are also discussed.