Chapter 1

Question 1

What is marketing?

Answer 1

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

Question 2

What does good marketing require?

Answer 2

Good marketing requires thoughtful planning with an emphasis on the ethical implications of any of those decisions on society in general

Question 3

What are the components of the marketing plan?

Answer 3

How the product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer.

Question 4

In any exchange what should happen?

Answer 4

the parties of the transaction should be satisfied

Question 5

Marketing is about _?

Answer 5

exchange