Principles Of Marketing Dersi 1. Ünite Sorularla Öğrenelim

What is the responsibility of marketing in a broad sense?

It is the responsibility of marketing to satisfy consumers and create good customer relations that will lead to satisfactory results for the company.

What is the definition of marketing?

Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives.

What is the difference between need and want?

Although these terms are used interchangeably through out this book, they are not the same concepts. A need is the difference between a consumer’s actual state and some ideal or desired state. A want is a desire for a particular product used to satisfy a need.

What is the role of marketing when a need arises?

Marketers generally try to influence the ways that consumers’ needs are met. In other words, marketing tries to impact what we may want when a need arises.

How do you define a want in marketing?

Consumer’s desire for a particular product used to satisfy a need is called a want.

What does demand mean in marketing?

Demand is an economy term that means customer’s need and want for a product must be coupled with purchasing power (money, resources) to obtain the product.

How does a customer demand occur?

A customer demand occurs only when the customer’s need and want for a product or service is backed by purchasing power.

What is the term "market" used for in marketing?

In marketing, the term “market” is used for the consumers who have a need or want for a spesific product/service whom also have the resources and willingness to buy the product.

What does a market consist of?

A market consists of consumers who have a need, resources (money) and willingness to buy a product.

What is exchange?

Exchange is an act of obtaining a desired object (like a product) from someone by offering something in return (like money).

How the needs and wants of customers are satisfied?

Consumers’ needs and wants are fulfilled through market offerings—a combination of products, services, information, or experiences offered to a market to satisfy a need or a want. Whilst some companies only offer physical products such as a detergent, toothpaste, others offer services like delivery, banking, insurance or hospitality.

Why are experiences very important part of the marketing offers today?

An experience occurs when a company intentionally uses services as the stage, and goods as props, to engage individual customers in a way that creates a memorable event. Physical goods are tangible, services are intangible, and experiences are memorable.

What does customer perceived value mean?

Customer perceived value is the customer’s evaluation of the differences between all the benefits and costs of a market offering compared to those of competing offers.

Why is customer value is a key concept in marketing?

Customer value is a key concept inmarketing because it gives importance to the idea that marketers should always be looking for ways to improve their customers’ experience of dealing with their company and products.

What are the marketing mix elements?

Marketing mix consists of a set of marketing tools, which is known also as 4Ps of product, price, place and promotion. The 4Ps is the most commonly used schematic for the marketing mix and has the advantage of being both widely recognized and easy to remember.

What is a product?

A product can be a good, a service, or an idea.

What is the difference between a good and a service?

A good is a physical entity that consumers may touch and perceive with their senses. A mobile phone, a car and a pack of instant coffee are examples of physical goods that we can touch, smell or taste. A service is the application of human and mechanical efforts to people or objects to provide intangible benefits to customers.

How do we define price in marketing?

Price can be defined as what the business charges its customers for the goods and services it provides.

What does a company’s total promotion mix consist of?

A company’s total promotion mix—also called its marketing communications mix—consists of specific blend of advertising, public relations, personal selling, sales promotion, and direct marketing tools that company uses to engage consumers, persuasively communicate customer value, and build customer relationships.

What does a true marketing orientation require?

A true marketing orientation requires a focus on both customers and competitors. While providing products and services that meet customers’ needs, it is important to do better than competitors.

What are the types of marketing orientations?

Types of marketing orientations are: production, product, sales, marketing and societal marketing orientations.

What does relationship marketing focus on?

Relationship marketing focuses on the ’lifetime’ value of the customer.