Chapter 1

Question 1

History of marketing - Marketing developed in a Four stage sequence

Answer 1

Production period 1890s-1920s – focus on physical production. The demand was higher than the supply rate. Limited selection of products/offerings and little competition. Just after the industrial revolution.

Sales period 1920s-1950s – focus on personal selling, supported by market research and advertisement. Just after the First World War.

Marketing period 1950s-1980s – focus on the costumers needs. Just after the Second World War.

Societal marketing period 1980s-Present day – focus on social and ethical concerns in marketing. Taking place during the “information revolution” of the late twentieth century.

Question 2

What is marketing?

Answer 2

It’s a strategy of adaptation of orgs to be competitive in the market and influence the behavior of the publics through an offering which the public perceive superior to the competitors.

Question 3

What is marketing as Dyadic exchange?

Answer 3

A two-way exchange of resources.
- Dyadic Exchange… (Dyadic = dyadisk (synonym till tvåfaldig)).
- (tvåvägs utbyte, for example a retailer gives goods and services and receives money in return. Another example, police gives protection och får tillbaka public fonds and cooporation, that’s the Exchange market).

Question 4

What is The Marketing mix and the 4 P: s?

Answer 4

• Product (WHAT)– how the offering meets the costumers needs, itäs packeging and it’s labeling.
• Place (distribution, WHERE) – the way in which the offering meets the costumers needs.
• Price (HOW) – the cost for the costumer and the cost plus profit for the seller.
• Promotion (HOW) – how the offerings benefits and features are conveyed to the potential buyer.

Shortened simplified version by Eugene McCarthy, Product, Place, Price and Promotion, The 4 P: s. Think ingredients.

Question 5

What is the extended Marketing Mix? (The 7 P: s)

Answer 5

An extension from 4 P: s to 7 P: s when used for SERVICES also and not just products.

Extended Marketing Mix:
- Physical evidence – tangible components of services, ex. brochures to students when choosing university, or giving tours.
- Process – emphasize the importance of the service delivery. Example is having a standardized process when “delivering” your service, this makes is also easier to manage customers’ expectations.
- People – the importance of customer service personnel. To offer competent maybe expert personnel is a part of the orgs offering.

Question 6

What do Marketers do?

Answer 6

All functions in an org can be seen as part-time marketers in different ways.

Question 7

What are the positives contributions of Marketing to society?

Answer 7

Some of the world’s most important inventions have come to us through the aggregate (samling) marketing system, example television, artificial sweeteners, phone, computer.

Broadly the aggregate marketing system works to transform and develop societies at large.

Stimulation of marketing demands.

The promotion and delivery of desired offerings.

Question 8

What are the three E: s of sustainability in Marketing?

Answer 8

1. Ecological, should not negatively impact the environment.
2. Equitable, should not allow to promote inequitable social practices.
3. Economic, should not encourage long-term economic development as opposed to short-term economic development.