This document discusses key marketing concepts including the marketing environment, customer satisfaction, customer value, and the value chain. It defines the task environment and broad environment. It also explains PEST analysis, which examines the political, economic, social and technological factors affecting a business. SWOT analysis is introduced as bringing together internal strengths and weaknesses and external opportunities and threats. Customer satisfaction depends on expectations and performance. Customer value reflects benefits versus costs. The value chain concept and Michael Porter's value chain model are briefly outlined.