Questions On Marketing

Submitted By sabrina0090
Words: 7895
Pages: 32
Open Document
CHAPTER

1 An Overview of Marketing

From: Marketing

28098_ch01_ptg01.indd 2

1/11/11 10:06:49 AM

Learning Outcomes

LO 1 LO 2 LO 3 LO 4

Define the term marketing 3–4 Describe four marketing management philosophies 4–7 Discuss the differences between sales and market orientations 7–12 Describe several reasons for studying marketing 12–13

“Marketing is too important to be left only to the marketing department.”
—David Packard

LO 1
A FTER YO U FIN IS H T HIS C H A PTE R , G O TO

What Is Marketing?

PAGE 13 FO R STUDY TOOLS

© WINDSOR & WIEHAHN/STONE/GETTY IMAGES

What does the term marketing mean to you? Many people think it marketing the means the same as personal selling. Others think marketing is the activity, set of institutions, and processes for creating, same as advertising. Still others believe marketing has something communicating, delivering, and to do with making products available in stores, arranging displays, exchanging o erings that have and maintaining inventories of products for future sales. Actually, value for customers, clients, marketing includes all of these activities and more. partners, and society at large Marketing has two facets. First, it is a philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction. Second, marketing is an organization function and a set of processes used to implement this philosophy. The American Marketing Association’s de nition of marketing focuses on the second facet. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.1 Marketing involves more than just activities performed by a group of people in a de ned area or department. In the often-quoted words of David Packard, co-founder of Hewlett-Packard, “Marketing is too important to be left only to the marketing department.” Marketing entails processes that focus on delivering value and bene ts to customers, not just selling goods, services, and/or ideas. It uses communication, distribution, and pricing strategies to provide customers and other stakeholders with the goods, services, ideas, values, and bene ts they desire when and where they want them. It involves building long-term, mutually rewarding relationships when these bene t all parties concerned. Marketing also entails

What do you think?
Marketing is selling.
1 2 3 4 5 6 7
S T R O N G LY D I S A G R E E S T R O N G LY A G R E E

Find out what others think at the CourseMate for MKTG. Log in at cengagebrain.com.

3
1/11/11 10:06:51 AM

28098_ch01_ptg01.indd 3

Employees as Competitive Adv antage customer service
Rewarding employees for outstanding job performance (sales, meeting development goals, etc.) reinforces positive behaviors, such as , and maintains employee (and by extension, customer) satisfaction. Recognizing an individual doesn’t have to cost a fortune. For example, trusting an outstand-

an understanding that organizations have many connected stakeholder “partners,” including employees, suppliers, stockholders, distributors, and others. Research shows that companies that reward employees with incentives and recognition on a consistent basis are those that perform best.2 Home Depot CEO Frank Blake rejects the notion that you should pay employees as little as you can and get as much work out of them as possible. In fact, The Home Depot believes that its employees are its biggest competitive advantage, listing “taking care of our people” as the rst value on the company Web site.3 One desired outcome of marketing is an exchange; people giving up something in order to receive something they would rather have. Normally, we think of money as the medium of exchange. We “give up” money to “get” the goods and services we want. Exchange does not require money, however. Two people may barter or trade such items as baseball
Show More

Related Documents: Questions On Marketing

Disney Research Paper

Disney is a brilliant company created by Walt Disney and his brother Roy Disney. The company has been around for over nine decades and continues to succeed yearly. The marketing aspect of Disney is what drives the company’s success. Disney has stepped out of the television box of being more than an animated film company and has dominated to film production industry and America’s loyalty to their products. The topic of researching how Disney continues to stay on top through a marketing aspect interested…

Words 627 - Pages 3

Unit 3 P1 Essay

an insight into what marketing is, and how it is used. The organisations you will be looking at are Disney and Shake away, two organisations you may already know a lot about. You will have the opportunity to understand what these organisations aim to achieve and how marketing helps them to achieve and how marketing helps them achieve it. You will be working independently and in a team, producing individual written work and practical presentation. P1– “Describe how marketing techniques are used to…

Words 3899 - Pages 16

American Marketing Essay

Marketing, every one defined marketing the way he or she see things in the daily life, many people things marketing is buying and selling only. But looking at businesses that focused in organization marketing can all so describe at medium that allows buyers and sellers of a specific good or service to interact in order to enable an exchange. The value that individuals pay during the operation or transaction maybe determined by a number of aspects, but price is often determined by the services of…

Words 503 - Pages 3

Essay on Disney: The Walt Disney Company

1. Identify 2 strategic growth initiatives of Disney since Iger joined in 2005 (don’t just limit yourself to items mentioned in the case, utilize the videos as well). Identify the market being served, and the specific products. According to Ansoff’s strategic opportunity matrix, what type of growth strategy is being employed with each of the initiatives? After Bob Iger joined the Global brand Disney in 2005, Disney experienced another astonishingly rapid development. One of the most outstanding changes…

Words 1282 - Pages 6

Marketing Audit Essay

Walt Disney Corporation Marketing Audit Max McKay Sabrina Coady Henrik Oiseth Principles of Marketing 308 Professor Simpson November 14, 2006 Walt Disney Corporation Founded in 1923, the Walt Disney Company has predicated itself as the world’s best in the family entertainment business. After 80 years in the business, who could argue with that statement? Today, Walt Disney Corporation dominates the market of family entertainment. An unparalleled experience is the direct affect…

Words 5818 - Pages 24

Disney: Nottingham Trent University and Mymms Drive Brookmans Essay

Nottingham Trent University studying Business Management and Marketing. I am seeking a placement in 2015 in Marketing and saw the chance to complete one with Disney on your website. Disney is recognised globally for its outstanding quality of its entertainment experiences, which is shown through the loyalty of not only its customers but also its employees; this is a major reason as to why I would like to work for Disney. A Marketing placement at Disney would be a chance for me to pursue and develop skills…

Words 386 - Pages 2

The Walt Disney Company Essay

Disney Magic, the first ship in the Disney Cruise Line fleet, is getting a major facelift. It's far more than a nip and tuck: The ship will have re-imagined kids' and adult spaces, as well as new dining options. PHOTOS: Disney Magic Re-Launch Details Revealed The re-launch of Disney Magic is scheduled for this fall. The ship will be in dry dock from Sept. 10 through Oct. 7, 2013 for its upgrades. The addition the young -- and young at heart -- will find most exciting is the new AquaDunk water…

Words 2080 - Pages 9

Walt Disney Value Chain Analysis Essay

value chain analysis for Walt Disney Company, I will be able to accurately show the “parts of its operations that create value, and those that don’t” (Hitt, Ireland, and Hoskisson, 87). The value chain is segmented into two categories: support functions and value chain activities. Support functions include finance, human resources, and management information systems which “support the work being done to produce, sell, distribute, and service the products [Walt Disney] is creating” (Hitt, Ireland,…

Words 1364 - Pages 6

Disney: The Walt Disney Company and Disney Theme Park Essay examples

operation? 1） The expensive cost for each park attractions and also the hotels around Disney need charge more cost than other hotel in Paris. 2） Weather is not good in Paris. 3） The historic problem between American and French let Disney not attract customers. 4） Disney executives failed to plan the future like recession at the end of the 1980s and the halt on planned vacations after the Gulf War in 1991. 5） Disney executives also did not invite investors to a share in the project. They wanted to…

Words 741 - Pages 3

Walt Disney Financial Analysis Essay

1.0 Introduction The Walt Disney Company is a diversified worldwide entertainment and global mass media company in the USA. It was first discovered by the Disney Brothers called Walt and Roy. It was started as the Disney Brothers Cartoon Studio and later on to be called Walt Disney Studio. The main headquarters of Disney is located in Burbank, California, USA. This company is now of the leading animation industry in America and they are slowly broadening their horizons into live-action…

Words 3950 - Pages 16