1- Define marketing and discuss how it is more than just “telling and selling.” * Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return * Today, marketing must be understood not in the old sense of making a sale – ‘’telling and selling” – but in the new sense of satisfying customer needs. If the marketer does a good job of understanding consumer needs; develops products that provide superior value; and prices, distributes, and promotes them effectively, these products will sell very easily.
2- What are the five different marketing management orientations? Which orientation do you believe Apple follows when marketing products such as the iPhone and iPad? a) Production concept
b) Product concept
c) Selling concept
d) Marketing concept
e) Societal concept
f) I think that apple orientation was: Product orientation: because this orientation tends to lead to make the high quality and more features of the product this all increase the price of product and increase the quality.
3- Explain the difference between share of customer and customer equity. Why are these concepts important to marketers? * Share of customer is the portion of the customer’s purchasing that a company gets in its product categories * Customer equity is the total combined customer lifetime values of all of the company’s customers * And these concepts are important to marketer because they are creating capture value from the customer and great profit and great satisfied loyal customer and increase market share and customer share for the company
4- Discuss trends impacting marketing and the implications of these trends on how marketers deliver value to customers.
* Uncertain economic environment
* New consumer frugality
* Marketers focus on value for the customer.
* Not for profit marketing