Marketing and Activity

Satisfactory Essays
Topics: Marketing
Revision for marketing:

Topics 1

Activity 1.1

Why is understanding customers wants so critical for marketers? How are the concepts of value and satisfaction related to each other? Explain the differences between transactions and relationships.

Activity 1.2
Now apply the issue discussed in Activity 1.1 to the following questions.
Consumers usually choose from a tremendous variety of products and services to satisfy a given need or want. Consider your need for nourishment. How does that need translate into different wants?

What marketing offers are available to satisfy your needs that also appeal to your wants?

How might other consumers in different market segments meet the same need for nourishment

Activity 1.3
Idea for a marketing debate - Does marketing create or satisfy needs?
Marketing has often been defined in terms of satisfying customers’ needs and wants. Critics, however, maintain that marketing does much more than that, creating needs and wants that did not exist before. According to these critics, marketers encourage consumers to spend more money than they should on goods and services they really do not need.
Take a position: “Marketing shapes consumer needs and wants” versus “marketing merely reflects the needs and wants of consumers”.

Part 2

Discuss the following question:
Compare and contrast the marketing concept and the societal marketing concept. Do you agree that marketers have an obligation to consider society’s long-term well-being? Give several examples you have found of hospitality companies being socially responsible. Include in your discussion how being socially responsible helps the company.
_Activity 1.5
Complete the ‘Marketing Ethics’ exercise on page 34 62 of the 11th edition of the textbook (or on page 62 of the 10th edition).
_

Activity 1.6

How does a company benefit from building relationships with its customers and partners? What are some ways in which a company can build more profitable

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