Session 1: Intro

Question 1

AMA definition of marketing

Answer 1

An organizational function and a set of processes for creating communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and stakeholders

Question 2

4 components to marketing process

Answer 2

Determine value prop
Deliver value
Capture value
Communicate value

Question 3

Optimal value proposition

Answer 3

Intersection of customer and company value. Also have to consider competitor value