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How to maintain a value for something with an oversupply? By withholding supply; clever marketing; suckers with misplaced values? How to double the marketing size for DeBeers Establish a tradition for the other hand The Troublesome 4 Tobacco, alcohol, gambling, guns An industry dominated by younger people factors (3) creativity, enthusiasm, hard work 4 strategies to drive web traffic (Ray-Ban) engaging anthem web film. 5 directors short films interpreting "never hide", web photo gallery, downloads Marketing the set of human activities directed at facilitating and consummating mutually beneficial, long-term, exchange relationships 4 facts of economic life firms compete for consumer's favor and operate to make a profit but this is not guaranteed, consumers are not forced to buy, caveat emptor- "let the buyer beware" Firms basic approach to marketing Bundle of satisfactions, marketing mix Bundle of satisfactions physical, functional, social, psychological Marketing mix Product, place, price, promotion Marketing manager's task to make optimal adjustments of factors under his or her control to factors beyond control Uncontrollables the market environment: individual costumers Macro environments natural, cultural, technological, economic, legal Two controllables the marketing mix, product placements Immersion experience forcing midlevel management to be more in tune with the consumers by working on ground level (The marketing concept) Consumer Orientation- four needed steps Generic need definition, target group evaluation, differentiation strategy, research commitment Integrated Marketing functional areas, mix elements, customer satisfaction Brand image a mental image reflects the way a brand is perceived, including all the indentification elements, the products personality, and the emotions and associations evokes in the mind of the consumer