4-1
What are the 4 ways that today’s marketing differs from marketing practices in the past?
From few to many. From independence to integration , from to opportunities, form expenses to investment.pg91/92
What is the initial focus of planning when the marketing concept is followed?
Conduct research to identify potential customers and their needs. Pg97
What is a market segment?
Groups of similar consumers within larger market. PG 99
What is stage 1 of Stages of Decision?
Recognize
What did producers make?
they developed products ans service needed by other businesses and by consumers
What different approach to marketing planning is required of businesses that use the marketing concept?
It keeps the main focus on planning, production, distribution and promotion of a product of service. Pg94/95
Why should marketing mix elements be planned together rather than separately?
An effective strategy will bring together many complex activities. PG 100
it is considered a essential part of the business
Intergrated
What is stage 2 of Stages of Decision?
identify
Do service businesses face unique challenges?
yes
Which of the following is evidence that a business is using the marketing concept?
A) being concerned only about the product or service
B) believing they know what customer wants
C) using only a few marketing tools
D) studying the market
A
How does the marketing concept affect planning ?
Without the marketing concept?
1. Develop a product
2. Decide on marketing activities
3. Identify potential customers
a plan that identify how a company expects to achieve its goals
Strategy
What is stage 3 of Stages of Decision?
Evaluate
why is marketing important to non-business organizations?
that you can still sell your product without a business
What is a market opportunities?
include new markets and ways to improve a company's responsible for identifying and planning for opportunities
How does the marketing concept affect planning?
With the marketing concept?
1. Conduct research to identify potential customers and their needs
2. Develop a marketing mix (Product, distribution, price, promotion) that meets specific customer needs
is a clearly defined segment of the market to which a business wants to appeal
Target market
What is stage 4 of Stages of Decision?
decide
What is a non-business organization?
its a primary focus something other than providing products and services
What are the 4 P's?
product price place promotion
what is a market segment?
groups of similar consumers within a larger market
Is a choice among alternatives
Decisions
What is stage 5 of Stages of Decision?
What are channel members?
are the businesses used to provide many of the marketing functions during the distribution process