Chapter 1

Question 1

Marketing

Answer 1

Is social process by which individuals and groups obtain what they need and want to creating an exchange and products and values with others

Question 2

Draw production verse marketing orientation

Answer 2

Marketing makes sure right goods and services are produced

Production makes goods and perform services

Both create customer satisfaction

Question 3

What are the marketing eras

Answer 3

Simple trade era – sell surplus

Production era – increase supply

Sales era – beat competition

Marketing department era – coordinate and control

Marketing company era – long run customer satisfaction

Question 4

List the eight universal functions of marketing

Answer 4

Buying
Selling
Transporting
Storing
Standardizing and grading 
Financing
Risk taking
Market information

Question 5

Measures organizations economic social and environmental outcomes

Answer 5

Triple bottom line

Question 6

Means that an organization aims all of its efforts at satisfying its customers at a profit

Answer 6

Marketing Concept

Question 7

Making whatever products are easy to produce and then trying to sell them

Answer 7

Production orientation

Question 8

Means trying to carry out the marketing concept

Answer 8

Marketing orientation