Chapter 1

Question 1

What is marketing

Answer 1

understanding the wants and needs of a customer

integrate organizations production and maintain long term goals to satisfy wants and needs

Question 2

Evolution of marketing

Answer 2

Production era, 
sales era, 
marketing company, 
social marketing, 
relationship marketing

Question 3

Production era

Answer 3

make products because of lack of options in market

Question 4

Sales era

Answer 4

convince consumers

Question 5

Marketing Company

Answer 5

customers are grouped into segment who become targets who are then persuaded

Question 6

Societal Marketing

Answer 6

Good for environment and consumer

recycling and waste reduction
safety and dietary issues

Question 7

Customer satisfaction

Answer 7

delighting the customer

Question 8

Relationship Marketing

Answer 8

Customer satisfaction
Keeping and improve relationships with customers
Long term relationships

Question 9

Customer relationship management

Answer 9

listen to them

satisfy their desires

Question 10

Exchange

Answer 10

giving up one thing for another

Question 11

Customer Value

Answer 11

quality that they expect

price they are willing to pay

Question 12

Marketing Segments

Answer 12

companies
families
individuals

Question 13

Building relationships

Answer 13

attract new,
increase business,
keep current customers,
grow market share

Question 14

Why does marketing matter

Answer 14

concern yourself w the customer
part of every day life
important skill set

Question 15

4 p’s

Answer 15

price, product, promotion , place