Ideas in this flowchart

• Marketing satisfies consumer needs and wants through business activities.
• Marketing activities are designed to satisfy consumer needs and wants.
• Marketing uses the “right” principle.
• The marketing concept identifies consumer needs and wants.
• Relationship marketing builds long-term customer relationships.
• The exchange process connects businesses with consumers.
• The right goods or services are provided.
• The right goods or services reach the right people.
• They are provided at the right place, time, and price.
• The right promotional techniques are used.
• Firms produce products that satisfy identified needs and wants.
• Products may be goods, services, or ideas.
• The marketing concept aims to make a profit.
• Relationship marketing can generate repeat sales.
• Relationship marketing can reduce costs.
• Relationship marketing can create stable relationships.
• Many firms have adopted the marketing concept.