1.3 lecture 1

Question 1

difference Marketing definitions AMA
1985:
2012

Answer 1

now more about networks and society and exchanging
1985: Marketing is the process of planning and executing conception, pricing, promotion
and distribution of goods, ideas and services to create exchanges that satisfy individual
and organizational goals.
2012: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have valuefor customers, clients, partners, and society at large.

Question 2

marketing from transaction and product driven to

Answer 2

to relation and value driven

Question 3

2 main marketing decisions

Answer 3

1) Segmentation: Understanding consumers? CB
2) Value differentiation: Creating customer value! Marketing strategy

Question 4

Market Orientation as culture

Answer 4

Set of beliefs that put the customers’ interest first,
* while not excluding that of all other stakeholders, such as owners, managers and employees,
in order to develop a long-term profitable enterprise.

Question 5

Market Orientation as behaviour

Answer 5

• The ability to generate, disseminate and use superior information about customers
  and competitors