Introduction

Question 1

Marketing definition

Answer 1

A social and managerial process of which individuals and groups obtain what they need and what through creating and exchanging products and value with others

Question 2

Functions of marketing

Answer 2

Innovation
Research
Branding
Event management 
Distribution 
Advertising
Selling
Customer service

Question 3

7ps of marketing

Answer 3

Product 
Price 
Place 
promotion
People
Process
Physical evidence

Question 4

Management philosophy driving business

Answer 4

Production concept
Product concept
Selling concept 
Societal marketing concept 
Marketing concept

Question 5

Production concept focus

Answer 5

Manufacturing
-low cost strategy

Assumes

• market is price sensitive
• demand exceeded supply

Question 6

Product concept definition

Answer 6

Product focus
-strategy of innovation

Assumes
-consumer want better quality versions of sAme product

Question 7

Selling concept definition

Answer 7

Selling focus

Assumes
-customers are initially reluctant to purchase and those who buy will like the product

Question 8

SocItal marketing definition

Answer 8

Focus
- society long term well being

Assumes
-customer satisfaction through building relationships that benefit all

Question 9

Marketing concept definition

Answer 9

Focus
-defining what customers want

Assumes
-customers not necessarily price driven but looking for a total offering