Marketing 100003016*201004 Principles of Marketing
Professor Jane Storm
Week 1 Assignment: Assurance of Learning Review
1) The four types of utility are: Form, Time, Place, Ownership
a) Form would be a dinner at the Red Lobster
b) Time would be getting a haircut at the base barber shop
c) Place would be an ATM machine inside the local grocery store
d) Ownership would be shopping at the outlet mall
2) The marketplace condition after World War II that gave rise to the need for consumer orientation by business was the shift from a seller's market to a buyer's market. When WWII ended, factories stopped producing war related materials and started producing consumer products again. Because it was now a buyer's market where there were more goods and services available, companies had to market their goods and services, not just produce them.
3) Relationship marketing is the development and maintenance of long-term, cost efficient relationships with individual customers, suppliers, employees, and other partners of mutual benefit. It fits into the marketing concept in the form of strategic alliances. Companies realized that there is more benefit to working with suppliers than against, through product development partnerships that involve shared costs for research and development and marketing.
4) Non-for-profit organizations need to engage in marketing efforts in short because they are considered big business. These organizations generate hundreds of billions of dollars in revenues each year through contributions and fund raising activities. Adopting a marketing concept is crucial to in giving these organizations the ability to meet their service objectives as they rely on funds to operate.
5) Big Apple bagels, through event marketing could take out an advertisement on the back of a football program of its biggest local high school and then follow that up with a table offering its products at the Friday night homecoming game....