introduction

Question 1

Two basic axioms of marketing

Answer 1

1. marketing is an economic activity

2. the marketer is its initiator

Question 2

Marketing development stages

Answer 2

1. Period of discovery (1900-1910)
2. Period of conceptualization (1910-1920)
3. Period of integration (1920-1930)
4. Period of development (1930-1940)
5. Period of reappraisal (1940-1950)
6. Period of reconceptualization (1950-1960)
7. Period of differentiation (1960-1970)
8. Period of socialization (1970-onwards)

Question 3

Kotler’s definition of marketing 1980

Answer 3

marketing as a human activity directed at satisfying humans’ needs and wants

Question 4

Kotler’s definition of marketing 1991

Answer 4

marketing as a managerial and social activity aimed at satisfying individuals’ and groups’ needs and wants

Question 5

What is marketing?

Answer 5

the process by which companies create value for customers and the society, resulting in strong customer relationships which capture value from costumers in return.