Chapter 1 Slides

Question 0

B2C marketing mix

Answer 0

4 p’s

Question 1

Business marketing

Answer 1

Strategic combination of many capabilities
Suppliers to business customer
Creation of a desired outcome

Question 2

B2B marketing mix concept

Answer 2

Many mixed in play at many levels
Constant dynamic multidimensional
Strategies may skip a level
Value chain - consumer vs specifier

Question 3

B2B product concept

Answer 3

Product as a thing
Product as idea or solution
Product as a total offering

Question 4

Marketing concept

Answer 4

Success comes from understanding and meeting customer needs, focusing all efforts and resources to satisfy their expectations

Question 5

Differences in market structure

Answer 5

B2B
Geographically concentrated
Few buyers
Oligopolistic competition

B2C
Geographically dispersed
Mass market
Many buyers
Monopolistic competition

Question 6

Differences in demand

Answer 6

B2B 
Demand is derived indirect occurring downstream
Inelastic
Volatile
Demand is discontinuous 
B2C
Demand is direct 
Elastic
Much less volatile
More continuous and consistent

Question 7

Value chain

Answer 7

The many networked company activities that are tied together to build a product for targeted consumers

Question 8

Bullwhip effect

Answer 8

Nothing happens up channel until he consumer buys something
Up stream suppliers must forecast demand down at the consumer level
Forecast errors unexpected volatility cause big effects up stream

Question 9

Total offering

Answer 9

The value chain builds each puzzle piece of the total offering

Question 10

Evaluated price

Answer 10

Total cost of owning and using a product
Total offering affects the evaluated price by adding more elements
Value is independent of evaluated price