marketing and the value framework

Question 1

marketing

Answer 1

“Marketing is human activity directed at
satisfying needs and wants through exchange
processes”

Question 2

marketing value

Answer 2

organisation gives value to customers that give value to organisation

Question 3

value

Answer 3

customers; the benefits relative to sacrifices

Question 4

functional/instrumental value

Answer 4

the attributes of the product itself; the extent to which a product is useful and fulfills a customer’s desired goals.

Question 5

Experiential/hedonic value

Answer 5

: the extent to which a product creates appropriate experiences, feelings, and emotions for the customer.