discussing the concepts in marketing
Discussing the Concepts
1. Define marketing and discuss how it is more than just “telling and selling”. Marketing is managing profitable customer relationships. The two fold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. The old sense of making a sale is telling and selling, but in new sense it is satisfying customer needs. Selling occurs only after a product is produced. By contrast, marketing starts long before a company has a product. Marketing is the homework that managers undertake to assess needs, measure their extent and intensity, and determine whether a profitable opportunity exists. Marketing continues throughout the product’s life, trying to find new customers and keep current customers by improving product appeal and performance, learning from product sales results, and managing repeat performance. Thus selling and advertising are only part of a larger marketing mix-a set of marketing tools that work together to affect the marketplace. If the marketer does a good job of understanding consumer needs; develops products that provide superior value; and prices, distributes, and promotes them effectively, these products will sell very easily.
2. Marketing has been criticized because it “makes people buy things they don’t really need.” Refuse or support this accusation. Every day we are bombarded with television commercials, direct-mail offers, sales calls, and Internet pitches. However, selling and advertising their products are only the tip of marketing. It really depends on people whether they buy their product or not. It is the customer’s fault if they buy a product that they don’t really need and they just want to have one.
3. Discuss the two important questions a marketing manager must answer when designing a winning marketing strategy. How should a manager approach finding answers to these
1. Define marketing and discuss how it is more than just “telling and selling”. Marketing is managing profitable customer relationships. The two fold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. The old sense of making a sale is telling and selling, but in new sense it is satisfying customer needs. Selling occurs only after a product is produced. By contrast, marketing starts long before a company has a product. Marketing is the homework that managers undertake to assess needs, measure their extent and intensity, and determine whether a profitable opportunity exists. Marketing continues throughout the product’s life, trying to find new customers and keep current customers by improving product appeal and performance, learning from product sales results, and managing repeat performance. Thus selling and advertising are only part of a larger marketing mix-a set of marketing tools that work together to affect the marketplace. If the marketer does a good job of understanding consumer needs; develops products that provide superior value; and prices, distributes, and promotes them effectively, these products will sell very easily.
2. Marketing has been criticized because it “makes people buy things they don’t really need.” Refuse or support this accusation. Every day we are bombarded with television commercials, direct-mail offers, sales calls, and Internet pitches. However, selling and advertising their products are only the tip of marketing. It really depends on people whether they buy their product or not. It is the customer’s fault if they buy a product that they don’t really need and they just want to have one.
3. Discuss the two important questions a marketing manager must answer when designing a winning marketing strategy. How should a manager approach finding answers to these