What are four marketing misconceptions
Marketing is common sense
Marketing is equivalent to sales and advertising
Marketing makes people buy things they don’t need
Marketing is an art and you either have the gift or not
Marketing does not involve numbers
True/false: lower prices is always better
False, in some cases a higher price is actually better e.g high end luxury brands
Give two arguments that marketing is more than just common sense
More is better (too many options can lower sales)
Better service leads to higher profit (more valuable if customers are willing to pay for it)
Lower is always better ( some cases higher prices are better)
Why is marketing more than just sales and advertising
Marketers have a range of integrated decision that go well beyond the scope of sales and advertising
___ is a lack of means of subsistence
Need
What is a want
Want is the strong desire for something
What is the combination of a strong desire for something and the ability to purchase
Demand
Define marketing in a single sentence
Marketing is managing exchanges with customers
True/false: market is the place parties come together to exchange something
True
What are the requirements for marketing
Planning implementation and control
What is a marketing plan
A written statement for managing exchanges with customers that includes goals, activities needed to achieve goals a timeline for included activities and measures to evaluate the activities
____ is the primary group of people you would prefer to exchange with
Target market
What is perceived value
Perceived value is defined as the perceived benefit relative to the perceived costs associated with an exchange
Why are marketers referred to as naive scientists
Naive scientists have an idea that something might work based on either theory or watching something in practice and tests the idea
Name the 5 marketing orientations
Simple trade/bartering
Production orientation
Sales orientation
Market orientation
Social orientation
Which marketing orientation focused on production efficiency and availability with low costs
Production orientation
True/false: simple trade focused on transaction
True
True/false: in sales orientation era customers where considered king/queen
False it was the market orientation era
___focused on aggressive selling and____ focused on customer relationships
Sales orientation and market orientation
Which sector of the economy did each orientation dominate
Simple trade- agriculture
Production and sales- industrialization
Market- services
Social- information technology
Social orientation emphasizes on social networks and focuses on social responsibility and sustainability true/false
True
