Chapter 1 Questions and Answers: 1. Which of the following is marketing's central role? Create and keep customers 2. Which of the following statements is true? It is more expensive to attract new customers than to retain existing ones 3. Why is there a need to monitor and understand competitors? Because customers will turn to competitors if their needs are not being me 4. Which of the following statements is true? The costs of attracting a new customer have been found to be up to six times higher than the costs of retaining old ones 5. Which of these is not part of the marketing concept? Matching competitors' offering 6. What is the purpose of production orientation focus? The purpose of the organisation is to manufacture the highest quality products 7. Which of these is not a feature of a market driven business? They stick with the same products 8. Why do marketing-orientated companies attempt to create customer value? In order to attract and retain customers 9. Customer Value =______________?Perceived Benefits – Perceived Sacrifice 10. Which of the following is seen as the key to achieve marketing success? Exceeding the value offered by competitors 11. When does customer satisfaction occur? Customer satisfaction occurs when perceived performance matches or exceeds expectations 12. What is meant by the term "perceived sacrifice"? The total costs associated with buying the product 13. In order to achieve commercial success in today's competitive climate, what customer needs have to be achieved? Expectations need to be exceeded so that customers are delighted with the outcome 14. Which of the following is not a characteristic of the Kano model of customer satisfaction? "Much More" 15. What is meant by the term "efficiency"? It does things right 16. What is meant by the term "effectiveness"? It does the right things 17. What is the essential difference between efficiency and effectiveness? That the
important questions the marketing manager must answer to design a winning marketing strategy. How does the manager go about answering these questions 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 satisfaction. Hence, marketing is defined as the process….
"Marketing is marketing, irrespective of the product or marketplace". This is a theme common to many introductory marketing texts and degree courses. The two most common exceptions cited to this proposition are buying behavior models between consumers and business buyers and the extended ingredients of the services marketing mix. While the overall sentiments of marketing hold true across product and market boundaries, perhaps the differences are in fact more marked? Intends to spark….
Many people would say that marketing and sales are exactly the same thing. However there are differences and understanding these differences is what makes people see that one is needed for the other to work. There are questions that should be asked such as what marketing strategies work best for the sales team and will help the company more, and how to explain to sales associates exactly what marketing is. For an employer, explaining what sales is to the marketing team and what marketing….
INTRODUCTION TO GLOBAL MARKETING
JAN 2013 Semester
LEARNING OUTCOMES OF THE COURSE
(READ YOUR COURSE GUIDE !!!)
ASSIGNMENT: GROUP REPORT (50%)
(3000- 5000 word Marketing Plan/ Feasibility Study)
Note: make sure the proportion of content that you write matches the marks distribution
PREPARING FOR THE GM PROJECT REPORT
1. The project must be researched progressively- last minute work would lead to poor grades 2. You have been….
Authors xvi 1. Introduction: Marketing for Hospitality and Tourism
CHAPTER OBJECTIVES CUSTOMER ORIENTATION
WHAT IS HOSPITALITY AND TOURISM MARKETING?
MARKETING IN THE HOSPITALITY INDUSTRY
Importance of Marketing
MARKETING HIGHLIGHT 1-1
Needs, Wants, and Demands
Value, Satisfaction, and Quality
Exchange, Transactions, and Relationships
MARKETING HIGHLIGHT 1-2: UNDESIRABLE CUSTOMERS
MARKETING MANAGEMENT PHILOSOPHIES
LO1 Various elements of the marketing process 1
The benefit and costs of marketing orientation for XYX manufacturing 1-2
LO2 Macro and micro environmental factors which influence marketing decisions 2
Segmentation criteria to be used for products in different markets 2-3
Targeting Strategy for a selected product/service 3
Buyer behaviour which affects marketing activities in different buying situations 3
Buyer behaviour which affects marketing activities in different buying….
First, let’s define: what is marketing? It is the action or business of promoting and selling products or services. Marketing is much more than just selling and advertising. It plays an essential role in providing consumers with need-satisfying goods and services. Marketing is a subject that touches everyone’s life. It is the means by which a standard of living is developed and delivered to people. Well, marketing plays an important role in society and affects my everyday life. It offers outstanding….
Marketing is AWARING people/customers about your products and service. Just Awaring and attracting.
There is company and its product/service and there is the customer, marketing is all that is the process by which the customer is realized about the product/service's quality and flexibility that which is better than other companies'. Among Marketing is an Ad, marketing is a person on the streets defining the quality the features and the flexibility of a product to the….
o maximize the return on a marketing plan, there need to be controls in place to monitor the plan's progress. As a marketing plan moves along, the controls are constantly analyzed to determine how the plan's actual performance compares to the projections. Any changes that need to be made are done based on the analysis of marketing controls. Understanding what the controls in a marketing plan are will help you develop effective performance measurement indicators.
3 BHK Apts in Noida….
The fast-food industry is a consumer service.
Hungry Jack's product they offer is the most similar to McDonald's. Hungry Jack's is positioned more as a market follower.
Companies use target marketing to tailor for specific markets. There are three components involved in target marketing: market segmentation, market targeting and market positioning. Hungry Jack's primary target markets are seniors, adults and teenagers however the most heavily targeted segment is children. Hungry Jack's….