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M: Marketing 4th Edition by Dhruv Grewal,Michael Levy
Edition 4ISBN: 978-0077861025M: Marketing 4th Edition by Dhruv Grewal,Michael Levy
Edition 4ISBN: 978-0077861025 Exercise 1
What is the definition of marketing?
2. Marketing is about satisfying _________ and _______.
3. What are the four components of the marketing mix?
4. Who can perform marketing?
5. What are the various eras of marketing?
2. Marketing is about satisfying _________ and _______.
3. What are the four components of the marketing mix?
4. Who can perform marketing?
5. What are the various eras of marketing?
Explanation
Verified
Verified
(1)Marketing:
A process of communicating to the customers by focusing on features of the product and creating a strong relationship with customers is termed as marketing.
(2)Marketing is about satisfying Customer needs and Wants.
(3)Marketing Mix:
A tool which is used by marketer to determine the right mix of product, to promote the product, to choose the right place to sell the product at reasonable price is termed as marketing mix. The marketing mix is often compared with the 4 Ps of marketing.
Components of marketing mix:
The following are the components of marketing mix:
• Product
• Promotion
• Place
• Price
(4)Marketing is performed by an organization or individual whose intention is to educate prospective customers about the products. The main purpose of any marketing activity is to make product super flows in the market with good reputation. Marketing can be between business to business, business to customer, and customer to customer.
(5)Eras of marketing:
The following are the various eras of marketing:
• Production oriented era : Producers concentrate on improving the production of the organization.
• Sales oriented era : Producers use techniques to improve the sales of the products.
• Market oriented era : Producers concentrate on producing products that suit the customer needs.
• Value-based oriented era : Producers concentrate on creating customer and business value for the products.
A process of communicating to the customers by focusing on features of the product and creating a strong relationship with customers is termed as marketing.
(2)Marketing is about satisfying Customer needs and Wants.
(3)Marketing Mix:
A tool which is used by marketer to determine the right mix of product, to promote the product, to choose the right place to sell the product at reasonable price is termed as marketing mix. The marketing mix is often compared with the 4 Ps of marketing.
Components of marketing mix:
The following are the components of marketing mix:
• Product
• Promotion
• Place
• Price
(4)Marketing is performed by an organization or individual whose intention is to educate prospective customers about the products. The main purpose of any marketing activity is to make product super flows in the market with good reputation. Marketing can be between business to business, business to customer, and customer to customer.
(5)Eras of marketing:
The following are the various eras of marketing:
• Production oriented era : Producers concentrate on improving the production of the organization.
• Sales oriented era : Producers use techniques to improve the sales of the products.
• Market oriented era : Producers concentrate on producing products that suit the customer needs.
• Value-based oriented era : Producers concentrate on creating customer and business value for the products.
M: Marketing 4th Edition by Dhruv Grewal,Michael Levy
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