1. define “marketing" as denoted by the american marketing association.
2. one important element of marketing is "exchange." list the conditions that must exist for "exchange" to take place. give an example (other than the text) where all the conditions are met but an "exchange" does not take place.
3. (a) what is meant by the “marketing concept?” (b) how does it differ from the “ production and sales orientation” philosophies? (c) name a firm (other that the text) that you think follows the “marketing concept” and why you feel this way.
4. what is “customer value” and “ customer satisfaction?"
5. what is a marketing plan and what objectives might it serve?
6. one of the ways a firm can exploit opportunities is through market penetration, market development, product development, and diversification. explain what these 4 options denote. also, give an example (other than the text) of a situation where a firm implemented a "market pentration" strategy.
7. what does it mean when a firm has a “ competitive advantage?”
8. what is the marketing mix? list and briefly discuss the elements of the marketing mix (also known as the 4p's). note: if you learn anything in this module, i sincerely hope you retain these strategic elements that the marketer can control.
1. what is a “target market?”
2. (a) what is demography? (b) what “generation” (age group) are you a part of and does the author’s description of buyer behavior for that generation fit you or not and why?
3. what is “inflation” and “recession” as discussed by the author?