IMM

Question 1

1. What is Marketing?

Answer 1

Marketing is the social and managerial process by which individuals and organizations obtain what they need and
want through creating and exchanging value with others

Question 2

what is Marketing Management Orientations?

Answer 2

We describe marketing management as carrying out tasks to achieve desired
exchanges with target markets.

Question 3

explain the 5 Marketing Management Orientations

Answer 3

production, product, selling, marketing, societal

Question 4

focus on marketing concept

Answer 4

The marketing concept holds that achieving organisational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and
efficiently than competitors do.

Question 5

focus on societal concept

Answer 5

In Societal Concept, marketing takes into account not only the needs and wants of the individual but what’s best for society.

Question 6

Strategic Planning

Answer 6

STRATEGIC PLANNING DEFINES MARKETING’S ROLE INSIDE THE ORGANISATION

Question 7

differernce between the selling and marketing concepts

Answer 7

inside-out and outside-in

Question 8

first step of the strategic planning

Answer 8

DEFINING THE
COMPANY
MISSION (statement of the organisation’s purpose)

Question 9

second step of the strategic planning

Answer 9

SETTING
COMPANY
OBJECTIVES
AND GOALS (are measurable goals)

Question 10

third step of the strategic planning

Answer 10

DESIGNING
THE BUSINESS
PORTFOLIO ( Identify SBUs, their attractiveness and decide how much support they deserve)

Question 11

BCG

Answer 11

star, question mark
cash cow, dog

Question 12

the core of marketing strategy

Answer 12

is creating customer value through long
term relationships with the customer

Question 13

The way you do that

Answer 13

segmentation, targeting,
differentiation,
positioning

Question 14

how to bring positioning to life.

Answer 14

4P

Question 15

who are the key players of our envirorment?

Answer 15

intermediaries, competitors, suppliers and publics

Question 16

targeting

Answer 16

the process of evaluating each market segment is attractiveness and selecting one or more segments to enter.

Question 17

positioning

Answer 17

arranging for a product to occupy a clear place relative to competing products in the minds of the target consumer.

Question 18

marketing mix

Answer 18

set of controllable tactical marketing tools

Question 19

how to create customer value?

Answer 19

Customer-Driven Marketing strategy

Question 20

market segmentation

Answer 20

Dividing a market into smaller segments with distinct needs, characteristics, or behavior that might require separate marketing strategies or mixes.

Question 21

what are the 4 segmentation parameters

Answer 21

demographic, behavioural, phycographic, geographic

Question 22

target market

Answer 22

set of buyers who share common needs or characteristics that the company decides to serve.

Question 23

evaluating market segment

Answer 23

size and growth - Segment structural attractiveness - Company Objectives

Question 24

positioning

Answer 24

the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market

Question 25

5 stages of awerness

Answer 25

unaware, problem aware, solution aware, product aware, mostaware

Question 26

what do you need MIS for?

Answer 26

too much information, the system helps you understand the data you have