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| Author: | Grönroos, C. |
| Title: | Marketing redefined. |
| Journal: | Management Decision
1990 : VOL. 28:8, p. 5-9 |
| Index terms: | MARKETING MANAGEMENT MARKETING MIX CONSUMER SATISFACTION |
| Language: | eng |
| Abstract: | The generally accepted means of implementing the marketing concept is the model of the marketing mix or the 4Ps (product, price, promotion, place). It is shown that this model is highly limited and specific: it was developed from research on consumer packed-goods and durables. Recent European research in the areas of industrial and services marketing has revealed both the faults of the old model and the basis for a new definition of marketing. This is geared to what the customer wants rather than what is convenient for the company to provide. According to the research carried out both in Finland and Scandinavia, marketing revolves around customer relationships, requires a fresh management approach. The implications of this concept are shown. |
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