Chapter 1 - Marketing: Customer Value, Satisfaction, Relationships, and Experiences

Question 1

Marketing

Answer 1

The activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at large.

Question 2

Requirements for marketing to occur?

Answer 2

• Two or more parties with unsatisfied needs
• Desire and ability to satisfy these needs
• A way for the parties to communicate
• Something to exchange

Question 3

The Ultimate Consumer

Answer 3

the consumer that buys and uses the product/service

Question 4

Business Campus Canvas

Answer 4

1. Value Proposition
2. Customer Segments
3. Channels
4. Customer Relationships
5. Revenue Streams
6. Key Partners
7. Key Activities
8. Key Resources
9. Cost Structure

Question 5

The Four P’s: Controllable Marketing Mix factors

Answer 5

Product, Price, Promotion, Place