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The original marketing concept was born in the post-war economy of scarcity, pent-up consumer demand, and growing consumer confidence. The new one thrives in a world of affluence, sophisticated and informed consumers, economic pessimism, and global competitors committed to delivering superior value based on their distinctive competencies. The new marketing concept addresses today's global customer who can choose among a much larger variety of products and services from producers located throughout the world. A necessary response to the new consumer is the value-delivery concept of strategy. Under the old marketing concept, the objective was to make a sale. Under the new concept, the objective is to develop a customer relationship in which the sale is only the beginning. The marketer's key strategic weapon is knowledge of customers and their dynamic definition of value. From the local savings bank to the largest multinational corporation, the focus of every company must be on managing loyalty among employees and carefully chosen customers.