Quotes

Question 1

Marketing - the process of planning and executing the conception, pricing, planning and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational objectives

Answer 1

AMA 1985

Question 2

Marketing is very difficult to define as it is simultaneously culture, strategy and tactics

Answer 2

Webster 1997

Question 3

Market orientation - The organisational culture that most effectively creates behaviours for the creation of superior value

Answer 3

Narver and Slater 1990

Question 4

Marketing principles:

1. Focus on customer
2. Only compete where you have competitive advantage
3. Customers do not buy products
4. Marketing needs to be the whole business
5. Markets are heterongeneous
6. Markets and customer are constantly changing

Answer 4

Webster 1997

Question 5

Targets to be avoided:

1. Dead end (Weak competitive position, Low market attractiveness)
2. Peripheral business ( Strong competitive position, Low market attractiveness)
3. illusion business (Weak competitive position, High market attractiveness)

Answer 5

Piercy 1997

Question 6

Marketing research - The systematic and objective identification, collection and analysis of info that is undertaken to improve decision making related to makreting

Answer 6

Malhotra 2012

Question 7

Geo-demographic coding - involves merging internal customer data with external geographic, demographic and lifestyle data on the same customer

Answer 7

Malhotra 2012

Question 8

Geo-visual databases - Databases created by combining internal customer databases with geographic data, making use of computer mapping software

Answer 8

Malhotra 2012