Week 1

Question 1

What affects all individuals, all organizations, all industries, and all countries?

Answer 1

Marketing

Question 2

What does marketing affect?

Answer 2

All individuals

All organizations

All industries

All countries

Question 3

Business success and carefully designed product, pricing, distribution and promotional strategies that meet the consumer needs, trends and expectations link to what?

Answer 3

Business success

Question 4

West jet case shows the link between business success and?
Explain the west jet case

Answer 4

Carefully designed product

Pricing

Distribution

And promotional strategies that meet consumer needs, trends and expectations

Question 5

Promotional strategies need to meet consumers:

Answer 5

Needs

Trends

Expectations

Question 6

Brands need to be?

Answer 6

Differentiated

Question 7

What are marketers challenges with?

Answer 7

Staying current to ensure that their strategies and messages resonate with customers

Question 8

Why do marketers need to stay current?

Answer 8

To ensure that their strategies and messages resonate with customers

Question 9

What are marketers ultimate objectives? (Profit and non profit)

Answer 9

To drive profits for a company

(Non profit) generate revenue and support to fund programs and run operations

Question 10

What are the aspects of marketing?

Answer 10

Promotion

Product

Price

Place

Question 11

Why are the aspects of marketing required?

Answer 11

To maximize profitability and generate revenue

Question 12

What is marketing responsible for?

Answer 12

Large portion of organizational expenses
Revenue

Question 13

What do marketers need to be?

Answer 13

Financially savvy

Able to create realistic forecasts

Dissect a profit and loss statement

Discuss return on investment strategies

Question 14

What does ROI stand for

Answer 14

Return on investment

Question 15

Marketing is intertwined with?

Answer 15

Internal and external stakeholders

Question 16

Marketing needs to work with?

Answer 16

Other functional areas

Question 17

What is a main contributor to new product development?

Answer 17

Research and development

Question 18

Research and development is a main contributor to what?

Answer 18

New product development

Question 19

Manufacturing produces a companies products to ensure

Answer 19

quality and cost efficiency

Question 20

Finance monitors what?

Answer 20

Sales and cost

Question 21

Information system coordinates what?

Answer 21

E-commerce and digital marketing technologies

Question 22

Human Resources ensures what?

Answer 22

Qualified and innovative people are filling roles within the organization

Question 23

The success of an organization is dependent upon what departments?

Answer 23

Manufacturing

Finance

Information systems

Human Resources

To function cooperating and collaboratively toward a common vision

Question 24

Marketing department both shapes and is shaped by what?

Answer 24

It’s relationship with internal and external groups

Question 25

What are the key people, groups and forces outside the organization that influence marketing activities?

Answer 25

Other organizations Shareholders Suppliers Customer Environmental forces (social, economic, technological, competitive, regulatory)

Question 26

What are environmental forces?

Answer 26

Social Economic Technological Competitive Regulatory

Question 27

The marketing department is responsible for facilitating what?

Answer 27

Relationships Partnerships Alliances with the organizations customers, shareholders, suppliers, and other organizations

Question 28

The marketing department is responsible for facilitating alliances with what?

Answer 28

The organizations customers Shareholders Suppliers Other organizations

Question 29

Environmental forces shape what?

Answer 29

An organizations marketing actions

Question 30

What are an organizations marketing decisions affected by?

Answer 30

Society and have important impact on society as a whole

Question 31

The organization must strike what?

Answer 31

A balance among the sometimes differing interests of groups. Ex. It is not possible to simultaneously provide the lowest-priced and highest-quality products to customers and pay the highest prices to suppliers, the highest wages to employees and the maximum dividends to shareholders

Question 32

Marketing planning starts with what?

Answer 32

A scan of the environment

Question 33

External demographic, social-cultural, economic, technological, competitive, and regulatory forces create what?

Answer 33

Opportunities that a company can maximize and threats that a company should minimize

Question 34

What forces creates opportunities that a company can maximize and threats for the company can minimize

Answer 34

External demographic, social-cultural, economic, technological, competitive, and regulatory forces

Question 35

Successful marketing is focused on what?

Answer 35

Customer needs and wants and developing programs to engage customers and inspire loyalty

Question 36

What is a need?

Answer 36

Basic necessities such as food, clothing, and shelter

Question 37

What is a want?

Answer 37

A need shaped by a persons knowledge, culture, and personality