Chapter 1: What is Marketing?

Question 1

What type of companies engage in marketing?

Answer 1

For Profit Companies
NonProfit Companies
Government Entities
Individuals

Question 2

What is Social Marketing?

Answer 2

Marketing conducted to achieve social/political objectives (ex. Global Warming)

Question 3

Name 5 Career paths marketers can take.

Answer 3

Market Research
Merchandising
Sales
Advertising
Product Development
Direct Marketing
Digital Media
Event Marketing
Nonprofit Marketing

Question 4

How does marketing provide value?

Answer 4

By providing the consumer with better information about how a product or service makes their lives easier

Question 5

Why is marketing so expensive?

Question 6

What are the key parts of a marketing plan?

Question 7

Define Marketing

Answer 7

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

Question 8

Define Value

Answer 8

The benefits the consumer receives that meet their needs.

Question 9

What is a Marketing Concept?

Answer 9

a philosophy underlying all that marketers do, requires that marketers seek to satisfy customer wants and needs