The new dominant logic of marketing: Views of the elephant

Marketing is as old as commerce but the discipline only emerged in the last century to support a new manager cadre: marketers. Marketing itself differs less than the various perspectives academics take of it. Marketing is also context dependent. The product, be it goods, services or service, may have only a small moderating impact on the fundamental logic of marketing. Increasing choice and complexity are influencing practice, as is the pressure for accountability. Brand equity is key. Pressures for cash flow are also changing how we understand marketing. The paper seeks to separate the fundamental logic of marketing from contextual and relativist perceptions.