customer needs, wants and demands. Describe the need versus the want for the following products: Gatorade, Nike shoes, and iPod.
* A need is a state of felt deprivation and a want is the form a human need takes as shaped by culture and individual personality.
Need vs. Want
Gatorade: A person’s...
Chapter 1 Review Notes
1. Define marketing and discuss how it is more than just “telling and selling.”
Marketing is managing profitable customer relationships. The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering...
2. Explain how changes in the demographic and economic environments affect marketing decisions.
3. Identify the major trends in the firm’s natural and technological environments.
4. Explain the key changes in the political and cultural environments.
5. Discuss how companies can react to the marketing...
a) Listsome of the demographictrend of interest to marketers in the Malaysia and discusswhether these trendposeopportunity or threats for marketers
* The changing age structure of the population
Generation Y, also known as Millennial Generation is the demographic cohort following Generation...
Discussion issue 2:
Listsome of the demographictrends of interest to marketers and discusswhether these trendsposeopportunities or threats for marketers.
Demography is the study of population issues and trends. For marketers, an understanding of population is essential...
important to marketers.
Describe the major components of the social environment and how trends in the social environment affect marketing.
3 4 5 6 7
Understand how the economic environment affects marketing.
See how the political/legal environment offers opportunities and threats to marketers.
that not only affect the company and the industry, but also other actors in the microenvironment. These shape the characteristics of the opportunities and threats facing a company. These factors are largely uncontrollable by the company.
The environment can affect the company in dynamic ways. The company...
important to marketers.
major components of the social environment and how trends in the social environment affect marketing.
Understand how the economic environment affects
See how the political/legal environment
offers opportunities and threats to marketers...
tracking and identifying opportunities in the environment? • What are the components of a modern marketing information system? • What are useful internal records? • What is involved in a marketing intelligence system? • What are the key methods for tracking and identifying opportunities in the environment...
Explain how changes in the demographic and economic environments affect marketing decisions.
• Identify the major trends in the firm’s natural and technological environments.
• Explain the key changes that occur in the political and cultural environments.
• Discuss how companies can react to...
affect, positively or negatively, its ability to create value for and relationships with its customer.
The major actors in the marketers microenvironment are:
The Company: Marketers must work in harmony with other company departments to create customer value and relationships. For example, Wal-Mart's marketer's...
marketing orientation goes beyond a market orientation to include the preservation or enhancement of individuals’ and society’s long-term best interests.
3 Discuss the differences between sales and market orientations
First, sales-oriented firms focus on their own needs; market-oriented firms focus on...
O’Brien, University of Strathclyde.
Unlike the controllable marketing mix variables, the environmental forces are not controllable by marketers. However, marketers can control how they deal with those uncontrollable forces by identifying and monitoring those forces that are relevant to their firms....
segmentation, market targeting, and market positioning.
2. List and discuss the major bases for segmenting consumer and business markets.
3. Explain how companies identify attractive market segments and choose a target marketing strategy.
4. Discuss how companies position their products for maximum competitive...
In order to correctly identify opportunities and monitor threats, the company must begin with athorough understanding of the marketing environment in which the firm operates. The marketingenvironment consists of all the actors and forces outside marketing that affect the...
The marketing environment represents a complex array of threats and opportunities for the organization, and can sometimes seem difficult to categorize.
In order to correctly identify opportunities and monitor threats, the company must begin with a thorough understanding of the marketing...
discussed to this point and see how marketers use this information to manage business decisions. In particular, we focus attention on the importance of marketing planning with special attention given to the role marketing strategy plays in the planning process.
For marketers planning is an essential task...
social needs. One of the shortest good definitions of
marketing is “meeting needs profitably.” When eBay recognized that people were unable to locate some of the items
they desired most, it created an online auction clearinghouse. When IKEA noticed that people wanted good furniture
at a substantially...
a) ownership b) form c) customer d) place
4. In the history of marketing, WHEN did the production era end in the UnitedStates?
a) Late 1800s with the mass immigration of skilled workers to America
b) 1920s with the improvement in production capabilities