Chapter Eleven
Chapter Eleven
Marketing: Building Profitable Customer Connections
Review Questions
1. How does the American Marketing Association define marketing? How can marketers deliver value to their customers over the long term?
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.
First, marketers could be honest and give customers only products that are built to last. In other words, they should seek to give customers products of quality. Second, marketers can look for the best deals out there, so that they could save the customers some money. In this economy, this point is very important. Finally, marketers can seek to market products in a cost effective way. This point is also worth mentioning, because marketing costs money and ultimately this cost is given to the consumer
2. What are the 4 different kinds of utility that marketers can provide? Give an example (not from the book) of a product that delivers each type of utility.
Marketers can provide form, time, place and ownership: Chipotle provides form, 24 7 convenient stores offer time, Starbucks provides place conveniently on every corner and most now have drive thru, and Barnes and Noble’s provides satisfaction to most consumers with friendly services provided efficiently.
3. What are the key categories of nontraditional marketing? Do you expect these areas to grow over the next decade? Why or why not?
The key categories are people, place, event, and idea marketing. I do although the economy is down movies stars and the rich that are in the public eye often times still support this non-profit marketing by donating but also appear in their commercials and speak out to help the marketing and usually do it for free.
4. How has marketing evolved over time? How have current events, economics, and culture influenced thinking about marketing?
Marketing has evolved over time
Marketing: Building Profitable Customer Connections
Review Questions
1. How does the American Marketing Association define marketing? How can marketers deliver value to their customers over the long term?
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.
First, marketers could be honest and give customers only products that are built to last. In other words, they should seek to give customers products of quality. Second, marketers can look for the best deals out there, so that they could save the customers some money. In this economy, this point is very important. Finally, marketers can seek to market products in a cost effective way. This point is also worth mentioning, because marketing costs money and ultimately this cost is given to the consumer
2. What are the 4 different kinds of utility that marketers can provide? Give an example (not from the book) of a product that delivers each type of utility.
Marketers can provide form, time, place and ownership: Chipotle provides form, 24 7 convenient stores offer time, Starbucks provides place conveniently on every corner and most now have drive thru, and Barnes and Noble’s provides satisfaction to most consumers with friendly services provided efficiently.
3. What are the key categories of nontraditional marketing? Do you expect these areas to grow over the next decade? Why or why not?
The key categories are people, place, event, and idea marketing. I do although the economy is down movies stars and the rich that are in the public eye often times still support this non-profit marketing by donating but also appear in their commercials and speak out to help the marketing and usually do it for free.
4. How has marketing evolved over time? How have current events, economics, and culture influenced thinking about marketing?
Marketing has evolved over time