Lectures 1-3

Question 1

inputs

Answer 1

what we invest

Question 2

outputs

Answer 2

goods and services produced

Question 3

outcome/impact

Answer 3

what happens because of our activities

Question 4

The marketing approach to business

Answer 4

puts, the customer, client, partner, and society at the heart of all business decisions

Question 5

businesses can be

Answer 5

• small and large
• selling goods and/or services
• social enterprise + not-for-profit
• civic institutions - national, state and local gov

Question 6

The marketing process

Answer 6

places people at the heart of strategy and operations

Question 7

Form Utility

Answer 7

transforming raw materials/knowledge into a usable product/service

Question 8

place utility

Answer 8

making offerings available to customers

Question 9

time utility

Answer 9

having offerings available when they are needed

Question 10

possession utility

Answer 10

allowing customers to own/use a product or service

Question 11

Exchange

Answer 11

the mutually beneficial transfer of offering value between buyer and seller

Question 12

seller deems a transaction valuable when its able to:

Answer 12

profit; prestige; ability to educate; delight; motivate and engage

Question 13

triple bottom line

Answer 13

corporate social responsibility
sustainability

Question 14

the marketing mix

Answer 14

4 p’s
product
price
promotion
place

Question 15

promotion

Answer 15

marketing activities that make potential customers aware

Question 16

internal marketing environment

Answer 16

organisations, people, processes
strengths and weakenesses

Question 17

external marketing environment

Answer 17

cannot directly be controlled by the organisation
opportunities and threats

Question 18

external marketing environment - micro

Answer 18

forces within an organisation industry that affect ability to serve customers and clients
– clients, partners, competitors

Question 19

external marketing environment - macro

Answer 19

PESTEL framework
political, economic, sociocultural, technological, environmental and legal forces

Question 20

environmental analysis

Answer 20

process that involves breaking the marketing environment into smaller parts in order to gain a better understanding of it

Question 21

political forces

Answer 21

influence of politics of marketing decisions

Question 22

Market Research

Answer 22

a business activity that discovers information of use in making marketing decisions

Question 23

Market research informs many types of decisions, including

Answer 23

Marketing segmentation
Sales performance
Product
Price
Promotion
Place

Question 24

The marketing information system

Answer 24

manages information gathered during operations of the organisation

Question 25

Marketing information system - market research

Answer 25

the problem, research design, data collection, data analysis, findings

Question 26

Marketing information system - Internal reports

Answer 26

accounting reports, production reports, sales reports, distribution reports

Question 27

Types of research

Answer 27

Exploratory, descriptive and casual research:

Question 28

qualitative research

Answer 28

obtain rich, deep and detailed information about the attitudes and emotions underlying a consumers behaviour

Question 29

Quantitive research

Answer 29

Research that collects information that can be represented numerically.

Question 30

Data analysis

Answer 30

Filtering and organising collected data.

Question 31

Quantitative analysis

Answer 31

Converts numerical data into knowledge that can be used to inform decision-making, using software such as SPSS or Excel

Question 32

Qualitative analysis

Answer 32

Reduction and coding are used to interpretnon‐numerical data

Question 33

Customer relationship management (CRM)

Answer 33

processes/practices put in place to identify, track and use customerinformation and preferences to provide superior customer service

Question 34

SMART

Answer 34

Specific, Measurable, Actionable, Reasonable, Timetabled

Question 35

The consumer decision-making process

Answer 35

need/want recognition, information search, evaluation of options, purchase, post-purchase evaluation

Question 36

situational influences

Answer 36

Physical, Social, Time, motivation, mood

Question 37

cultural influences

Answer 37

cultural factors, subculture, social class

Question 38

social influences

Answer 38

reference groups, family, roles and status

Question 39

Personal influence

Answer 39

demographic (age, occupation, income), lifestyle, personality and self-concept

Question 40

psychological influence

Answer 40

motivation, perception, beliefs and attitudes, learning

Question 41

Hofstede Cultural Dimensions

Answer 41

power distance, uncertainty avoidance, individualism, masculinity

Question 42

business markets

Answer 42

reseller markets, producer markets, government markets, institutional markets

Question 43

reseller markets

Answer 43

intermediaries that buy products in order to sell of lease them to another party for profit

Question 44

product markets

Answer 44

purchase products for use in the production of other products or in their daily business operations

Question 45

government markets

Answer 45

buy and sell products to provide services for citizens

Question 46

institutional markets

Answer 46

not-for-profit orginisations