Marketing Concept - 804 Words

NGÔ BÃÅ'NH MSc. in Marketing Università © Paris 1-Panthà ©on-Sorbonne EXCERCISE PRINCIPLES OF MARKETING VATC/IAE – Broward Program Term: Winter 2012 HCMC 2012 ------------------------------------------------- CHAPTER 1 ------------------------------------------------- MARKETING’S VALUE TO CONSUMERS, FIRMS, AND SOCIETY PART 1: TRUE OR FALSE 1. Marketing is important to every consumer Answer: 2. Marketing and Selling are basically synonymous terms. Answer: 3. The marketing concept has been adopted by virtually all major consumer goods producers. Answer: 4. The customers’ 4Ps are products amp; services, place, price amp; promotion Answer: 5. Marketing is needed because it is a basic functional area†¦show more content†¦A group of consumers willing and able to engage in exchange o. All of the above 4. If you stop at Coopmart for shopping, you have expressed a: p. Want q. Desire r. Demand s. Need t. Wish 5. The first computers origintaed for home use were only sold in kit form to technical enthusiasts who did their own assembly. At that time, the firm offering these kits would likely be in the ........... era. u. Production v. Marketing w. Product x. Sales y. Society 6. A state of felt deprivation of some basic satisfaction is termed a ........... z. Need {. Want |. Demand }. Need ~. Wish 7. The marketing concept could not be applied by ............ . Suppliers of raw materials . Service industries . Consumer goods manufacturers . Industrial goods manufacturers . All of the above could apply it 8. Which of the following statements best reflects a marketing philosophy? . â€Å"sales are down, let’s increase our advertising† . â€Å"we try to sell our high-quality widgets† . â€Å"how much customer service improvement would a new warehouse yield?† . â€Å" inventory costs are too high, we’ will have to cut down† . â€Å"the salesforce’s job is to sell as many units asShow MoreRelatedMarketing Concept Of Marketing Concepts1131 Words   |  5 Pages Marketing is about connecting the value of a product, service or brand to customers or consumer for the resolve of encouraging or selling that product, service, or brand. The concepts of Marketing are: Production concept, Product concept, selling concept, Marketing concept and Societal Marketing concept. Production concept: Production concept deals with production. Customer wants that product which is widely available and has a less price. Product concept: Production concept believes in customersRead MoreMarketing Concept Of Marketing : Marketing1651 Words   |  7 PagesMarketing concept Marketing plays a major function in any business organisation. The essence of marketing is about designing and managing a product and generating exchanges of value from where both the customer and the organisation can attain benefits. 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 (Solomon, Marshall Stuart, 2009, p.13). MarketersRead MoreMarketing Concept Of Marketing And Marketing1413 Words   |  6 PagesMARKETING CONCEPT Marketing is an act of promoting and selling products or a service, this also includes marketing research and advertising. The marketing concept is the philosophy used by companies to analyse the needs of their customers so they can be better than the competition. 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This assignment will be looking at the marketing theory and marketing concepts which are portrayed in the traditional marketing literature, and how they have limited application in guiding small business marketing practice. Marketing plays a vital role not only in developing, producing, and selling products or services, but also in guiding recruiting labors and raising capital. Although it can be said that successful entrepreneurs undertake marketing in unusual ways. TheyRead MoreMarketing : The Holistic Marketing Concept1392 Words   |  6 Pages Prior to this class, although I have some experience in a marketing type role, I thought of marketing as the process that was activated post product development and the vehicle to product/service promotion and advertisement to the marketplace. Through this class, I have a greater understanding of marketing, and realize promotion and advertisement is just a fraction of it, and has much more depth. Marketing begins at the beginning, and is integrated through to the end of the life cycle. It hasRead MoreMarketing Concept Report : Marketing Essay1392 Words   |  6 PagesMarketing Concept Report The world today has become a global village, and this has necessitated better marketing strategies to ensure the success of any business. Marketing has become very dynamic with many plans that are all designed to ensure a business survives in its market in this day of fierce competition. The markets have become a place of change or die, and that is why there are so many strategies such as segmentation, customer satisfaction, and consumer relationship management among other