01 - The realms and drivers

Question 1

what are the types of exchanges?

Answer 1

Question 2

What are the five domains of marketing?

Answer 2

Processes of exchange
Behavior of buyers
Behavior of sellers
Institutional framework
Marketing and society

Question 3

Explain the text by Hunt called General theories and the fundamental explananda of marketing by Shelby D. Hunt

Answer 3

The article “General Theories and the Fundamental Explananda of Marketing” by Shelby D. Hunt (1990) provides an overview of the fundamental components of marketing theory and the importance of understanding these components in order to effectively analyze marketing strategies. Hunt argues that in order to fully understand the core processes of marketing, one must consider three different levels of analysis: the individual level, the organizational level, and the societal level. The article reviews the existing theories of marketing and provides an overview of the major components of each theory. Hunt also examines the different roles of the marketing manager, including their responsibilities and decision-making processes. Finally, the article identifies the need for further research into the impact of marketing on society and the implications of marketing theories.

Question 4

Explain exchange theory

Answer 4

Question 5

Why is marketing needed?

Answer 5