Chapter 1: Introduction

Question 1

What is Marketing?

Answer 1

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

Question 2

What does a good marketing plan begin with?
What tool can be used in this analysis?

Answer 2

• begins with an assessment of the external conditions of the market in which a firm wants to compete
• PESTLE: Political, Economic, Societal, Technological, Legal and Environmental factors

Question 3

What are the 3 main options that marketing managers choose when developing a global strategy?

Answer 3

1. Exporting
   - Internet
   - Distributors
   - Direct Sales Force
2. Contractual agreements
   - Licensing
   - Franchising
3. Strategic alliances
   - International joint venture
   - Direct foreign investment

Question 4

What is the role of marketing in CSR?

Answer 4

• promoting the triple bottom line: planet, people, profit
• it is essential that choices are made that are good for the company (I.e., profitable) but also reduce the impact on our environment and improve the lives of people in our communities