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process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
Marketing
Marketing is all around you. True or false
True
Food, clothing, warmth, and safety are forms of?
Needs
Shaped by one's society and culture. You do not need these items for survival.
Wants
some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
Market offerings
paying more attention to the specific products than to the benefits and experiences produced
Marketing myopia
_________ is the act of obtaining a desired object from someone by offering something in return
exchange
Marketing is managing profitable customer relationships. True or False
True
A(n) ________ is the set of actual and potential buyers of a product or service. A) market B) control group C) subsidiary D) focus group E) audience
A
Consumer research, product development, communication, distribution, pricing, and service are all core ________ activities. A) positioning B) marketing C) outsourcing D) production E) logistics
B
When backed by buying power, needs become wants. True or. False
False
Market offerings are limited to physical products. True or False
False
An experience such as a vacation can be defined as a market offering. True or False
True
The art and science of choosing target markets and building profitable relationships with them is called ________. A) marketing management B) positioning C) marketing mix D) market offering E) differentiation
A
How many marketing concepts are there?
5
What are the 4 P's of the marketing mix?
product, price, place, and promotion
