Study Unit 1

Question 0

What are the marketing perspectives?

Answer 0

Production-Oriented Perspective

Sales-Oriented Perspective

Marketing-Oriented Perspective

Marketing Concept

Cause-Related Marketing

Social Marketing Perspective

Relationship Marketing Perspective

Question 1

What is Marketing?

Answer 1

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

Question 2

What is the traditional marketing mix?

Answer 2

Product

Price

Place

Promotion

Question 3

What are the additional P’s in the marketing mix?

Answer 3

Process

Physical evidence

Participants

Question 4

What are the 4 C’s?

Answer 4

Consumer needs and wants

Costs

Convenience

Communication

Question 5

What is Marketing Management?

Answer 5

Marketing management is the continuous process of planning, organising, leading and controlling marketing activities.

It includes identifying opportunities, threats, compiling data, selecting the target audience, selecting strategy, detailing marketing plan, dealing with personnel, and controlling marketing processes

Question 6

Identify the steps in the marketing plan.

Answer 6

Step 1: Situation Analysis

Step 2: Marketing Opportunities

Step 3: Marketing Objectives

Step 4: Strategic and Action Plans

Step 5: Financial Control and Budget