Chap 1: Marketing

Question 1

Problems when managing environmental issues in marketing (Kotler, 2011)

Answer 1

• Marketers assume infinite resources and zero environmental impact.
• Consumers lower income and spending level.

Question 2

Solutions to manage environmental issues in marketing (Kotler, 2011)

Answer 2

• Re-examine theory
• Revise policy on 4P
• Balance company’s growth goal with the need to pursue sustainability
• Employ de-marketing and social marketing thinking

Question 3

Marketing definition

American Marketing Association (2008)

Answer 3

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners, and society at large.

Question 4

Marketing definition

Kotler and Keller (2006)

Answer 4

The art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value.

Question 5

Marketing definition

American Marketing Association (2004)

Answer 5

Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Question 6

Scope of marketing

Answer 6

• What is marketed?

- Who markets?

Question 7

What is marketed?

Answer 7

It’s beyond goods and services: Events, experiences, persons, places, properties, organisations, information and ideas

Question 8

Who markets?

Answer 8

• Marketers and prospects

- Markets and key customer markets (B2C, B2B, global market, non-profit organization and government market)

Question 9

Evolution of marketing as a discipline (Kumar, 2015)

Answer 9

1996 - 2004: the study of customer profitability and resources allocation. Triggered by database technology that captures consumer data at the individual level.
2005 - 2012: marketing accountability and customer centricity. Triggered by technological advance for deeper insights.
2013 - present: marketing at the core and new media influence. Triggered by change in media usage.