Chapter 1

Question 1

What is Marketing

Answer 1

• about understanding the needs of the customer
• engaging a customer and guiding the delivery of services and products
• activities that develop an offering in order to satisfy a customer need, a conversation

Question 2

need

Answer 2

state of being where we desire something we don’t possess but yearn to acquire

• activities that develop to satisfy customer need
  ex. transportation= need what’s marketed=want

Question 3

Product Orientation

Answer 3

marking as messenger to alert customer of product/service
make product you deem best and it will sell itself
create 1 model, what you want to make ie. one type of Ford

Question 4

Sales Orientation

Answer 4

• competition now in marketplace
• sales techniques, coax customers, increase sales material
• the salesman, get people to buy more

Question 5

Marketing Company Orientation

Answer 5

-coordination of marketing activities to one department
-goal: understand customer better not just sell to them
development of marketing concept, link service to need
1. Integrate: all activities are to satisfy customer needs and wants
2. Focus: upon wants and needs of customers
3. Achieve: long term goals to satisfy customer legally and respectively

Question 6

Societal Marketing Orientation

Answer 6

• consider customer wants and society wants (long term impacts of the product)
• greater governmental involvement in this
• consider aspects of external environment ie fair trade coffee

Question 7

Relationship Marketing Oreintation

Answer 7

developing real sustainable relationships with customers
engaging beyond one shot sale
customer satisfaction is very important good to keep customers by meeting needs and wants and keep improving the relationship
stems from data mining, and bulidng 24/6 trust relationship

Question 8

Exchange

Answer 8

give up one thing for omsehtng they wouldrather have

common delivery, can accpt or reject, balue when both

Question 9

Customer value

Answer 9

relationship between benefits and sacrifice necessary to obtain the benefits
by offering product that performs, earns trust, communicate avoid unrealistic price

Question 10

Marketing segments

Answer 10

demographic with share needs (individual, family, company)

research segments to improve marketing

Question 11

Building relationships

Answer 11

attract new customers:promotion sponsorships get them to switch

• increase existing business; promote in new tactics (ie all-day breakfast at McDonalds)
  retain: defend one market maturity is reached

Question 12

market share-

Answer 12

what share you have, defend to grow and stay afloat

Question 13

Product:

Answer 13

tangible or intangible, look at what needs are , produce things to satisfy many needs

Question 14

Price:

Answer 14

quantifying a value in xchange for offering competitive customer perceptions and economic factors

Question 15

Place

Answer 15

behind the scenes, channels and logistics decision to market can be most important

Question 16

Promotion

Answer 16

most visible aspect find balance of what techniques and consistent look