MK 004 Handout A

What is the nature of marketing?

• The process of creating, communicating, delivering, and exchanging offerings that have value for customers

• The process of selling products to customers

• The process of advertising products to customers

• The process of manufacturing products for customers

What are the activities involved in the marketing process?

• Planning, finding out about customers, offering products, determining price, communicating with customers, and putting products where they need to be

• Selling products, advertising products, and manufacturing products

• Promoting products, distributing products, and analyzing customer feedback

• Researching customer needs, designing products, and setting prices

Where does marketing occur?

• Everywhere customers are present

• Only in retail stores

• Only online

• Only in business offices

Who takes part in marketing?

• Only businesses who sell products

• Only individuals who buy products

• Individuals and businesses who connect goods and services to the people who buy them

• Only marketing professionals

What can be marketed?

• Practically anything and everything, including goods, services, organizations, events, places, ideas, information, and people

• Only tangible goods

• Only physical products

• Only intangible services

What is the marketing concept?

• A philosophy of conducting business that is based on the belief that all business activities should be aimed toward maximizing profits

• A philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying customer wants and needs while achieving company goals

• A philosophy of conducting business that is based on the belief that all business activities should be aimed toward minimizing costs

• A philosophy of conducting business that is based on the belief that all business activities should be aimed toward promoting social responsibility

What does customer orientation mean in the marketing concept?

• Doing things the fastest way

• Doing things the cheapest way

• Doing things the company's way

• Doing things the customer's way

What does company commitment mean in the marketing concept?

• Doing things better

• Doing things the customer's way

• Doing things the cheapest way

• Doing things the fastest way

What role do company goals play in the marketing concept?

• Doing things the fastest way

• Doing things the cheapest way

• Doing things the customer's way

• Doing things with success in mind

What is the societal marketing concept?

• Creating and marketing products that benefit both customers and society as a whole

• Creating and marketing products that benefit only society

• Creating and marketing products that benefit only the company

• Creating and marketing products that benefit only customers