Introduction to Marketing

Front

What is marketing often mistaken for?

Back

Marketing is often mistaken for advertising or personal selling, but it is much more than that.

Front

What does marketing bring to a company?

Back

Marketing brings in customers, and customers bring in money. It also helps build brand equity and the company's reputation.

Front

How does marketing help a company stay competitive?

Back

Marketing helps a company stay ahead of the competition by engaging customers and learning from customer relationships.

Front

Define marketing as an exchange relationship.

Back

Marketing is an exchange relationship between a firm and its customers, where the customer wants something from the firm, and the firm wants something from the customer.

Front

What can be marketed?

Back

Almost anything can be marketed, including goods, services, experiences, events, people, ideas, information, and places.

Front

Why is marketing management important?

Back

Marketing management is important because it helps educate the marketplace and has evolved from a function to an organization-wide philosophy.

Front

What are the 5Cs of marketing?

Back

The 5Cs of marketing are customer, company, context, collaborators, and competitors.

Front

What does the STP framework stand for?

Back

STP stands for Segmentation, Targeting, and Positioning.

Front

What are the 4Ps of marketing?

Back

The 4Ps of marketing are Product, Price, Place, and Promotion.

Front

How is marketing success measured?

Back

Marketing success is measured by quantifying results, such as sales increases from promotions, but some programs are difficult to quantify.