1) Marketing is the process of creating value for customers and building strong customer relationships to capture value in return. It involves understanding customer needs and designing strategies to satisfy them better than competitors. 2) Developing a marketing strategy requires selecting target customer segments and determining the optimal value proposition for each. An integrated marketing program uses the "four Ps" - product, price, promotion, and place - to implement the strategy. 3) Building customer relationships through superior customer value and satisfaction is key. Relationship management tools can be used to deepen engagement and loyalty over the long-term.