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Customers are more empowered and connected, which is shifting the balance of power. Consequently, firms must rethink how they interact with customers.
This evolution demands a significant shift in our mental models about marketing. While the goals of marketing have not changed, the Internet does call into question some basic assumptions about marketing. Marketing, at its essence, will always be the process of creating value through exchanges. But the nature of exchanges between marketers and customers has changed dramatically.
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