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Top Market Strategy by Elizabeth Rush Kruger

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1.1 Marketing

Simply stated, marketing facilitates the exchange of value between parties. This means that your customers are willing to pay a higher price when your business offers more value. Thus your profit from customers measures how well your business responds to the desires of its customers, thereby fulfilling the golden rule:

“Do unto others as you would have them do unto you.”1

A business can market anything—a product, service, location, candidate, or issue—by making decisions relative to four basic tools: product, price, place, and promotion (Table 1).

Table 1. Tools of the Marketing Mix

ToolsAspects
ProductBrand name, design, benefits, ...

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