Value proposition, a set of benefits that they promise to consumers to satisfy their needs, is fulfilled through a marketing offer
Marketing offers are not limited to physical products. In addition to tangible products, marketing offers include services, activities or benefits offered for sale that are essentially intangible and do not result in the ownership of anything. More broadly marketing offers also include other entities, such as persons, places, organizations, information, and ideas.
 Many sellers make the mistake of paying more attention to the specific products they offer than to the benefits and experiences produced by these products.
 Marketing myopia – they are so taken with their products that they focus only on existing wants and lose sight of underlying customer needs. They forget that a product is only a tool to solve a consumer problem

Value and Satisfaction
- Customer value : the difference between the values the customer gains for owning and using a product and the costs of obtaining the product. Customers form expectations about the value of various marketing offers and buy accordingly. Customer expectations are based on past buying experiences, the opinions of friends, and marketer and competitor information and promises
- Customer satisfaction : depends on how well the product’s performance lives up to the customer’s expectations. Customer satisfaction is a key influence on future buying behavior.
 Marketers must be careful to set the right level of expectations.

Exchange, Transactions, and Relationships
- Exchange : the act of obtaining a desired object form someone by offering something in return.
- Transactions : a mark ...