ch 1

Question 1

marketing

Answer 1

activity, set of institutions and procesesses for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large

Question 2

Evolution of Marketing

Answer 2

-substience and gift economies (pre 1600)
-trade and barter (1600-1850)
-production orientation (1850-1920)
-sales orientation(1890-1970)
-market orientation(1950-2000)
-social orientation(2000-current)

Question 3

subsistence and gift economies

Answer 3

-pre 1600
-provision for the basic needs of individual and communities
non monetary, nonprofit, communal

Question 4

trade and barter

Answer 4

-1600-1850
-european explorers
indigenous ppl adapted to trading fur commercially

Question 5

production orientation

Answer 5

-1850-1920
-efficiency, availability and low cost

Question 6

sales orientation

Answer 6

-competition increased; focused on selling

Question 7

market orientation

Answer 7

-1950-2000
-economic prosperity after WW2
understand what consumers wanted to satisfy cx
-relationship marketing