Introduction: The New World of Marketing

Abstract

In today’s intensely competitive markets with saturating demand levels, customers dictate the agenda. There has been a radical change in roles, as sellers become suitors for the purchasing power of customers. The automobile industry, for example, can produce nearly 20 million vehicles more than world markets demand. The worldwide overcapacity in the steel industry is larger than the entire US steel industry. This reversal — from scarce goods to scarce customers — is the essence of Marketing 2.0.