17.1 Role of marketing

Question 1

Marketing

Answer 1

The management task of identifying and meeting the needs of customers profitably by getting the right product at the right price at the right time.

Question 2

Corporate objectives

Answer 2

Well-defined and realistic goals set for the whole company.

Question 3

Marketing strategy

Answer 3

A plan of action giving details of how a business intends to achieve its marketing objectives by creating competitive change.

Question 4

Marketing objectives

Answer 4

The goals set for the marketing department to help the business achieve its overall (corporate) objectives.