Overview of Marking

What is the role of marketing?

• To create and capture value for customers and society

• To only sell products

• To focus solely on advertising

• To manage financial accounts

What is a marketing plan?

• A strategy for specifying marketing activities over time

• A list of products to sell

• A financial report

• A customer feedback form

What does market segmentation involve?

• Dividing the marketplace into smaller targets

• Increasing product prices

• Reducing marketing costs

• Expanding product lines

What value does the 'Product' aspect of the 4 P's offer?

• Creates Value

• Captures Value

• Delivers Value

• Communicates Value

Which era of marketing involved retailers holding inventory until it was sold?

• Production

• Digital

• Social Media

• Service

During which period did production and distribution techniques become more sophisticated?

• Between 1900 and 1920

• Between 1920 and 1950

• Between 1950 and 1980

• Between 1980 and 2000

What was a characteristic of the marketing era that occurred just after World War II?

• Focus on mass production

• Consumer was king

• Emphasis on product innovation

• Limited consumer choice

What is one way marketers create value for a product or service?

• Increase production costs

• Build relationships with customers

• Focus solely on product features

• Ignore customer feedback

What do marketers need to provide to compete successfully today?

• Lower prices than competitors

• Better value than competitors

• More advertisements than competitors

• Faster delivery than competitors

Match the following

• Captures Value

• Price

• Communications Value

• Product

• Creates Value

• Promotion

• Delivers Value

• Place