The notion that organizations should strive to satisfy customer needs while achieving their own objectives is embodied in a business philosophy known as the marketing concept, the most fundamental precept in the marketing discipline. Despite the fact that many successful organizations now embrace the marketing concept as a way of doing business, creating long‐term, mutually beneficial exchange relationships with customers is seldom easy, even when buyer needs are known and the external environment is stable and predictable.
Rapid and unpredictable change implies that marketing managers need to understand the forces of strategic change, analyze the implications of these changes for the competitive position of their organizations, and respond quickly with effective marketing strategies. Integrating the analysis of complex strategic situations with knowledge about target market and positioning strategies permits marketing managers to anticipate and exploit changes that are largely beyond the control of any single organization.
This is accomplished by matching organizational strengths with market, industry, and competitive opportunities to create and sustain mutually beneficial customer relationships.