Topic 1 Marketing & Sales

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What is the philosophy of marketing? A way of thinking! The debate among Marketing Academics/Practitioners about the role/mission of marketing in business today
What is the business process responsible for satisfying customers requirements profitably? According to Kolter, the management process responsible for identifying, anticipating and satisfying customers' requirements is Marketing!!
What is Marketing definition> "Marketing is to establish, maintain, and enhance relationships with customers and other partners, so that the objectives of the parties are met. This is achieved by mutual exchange and fulfillment of promises" Gronroos.
What is according to Peter Drucker (1999) the basic function of marketing? "The basic function of marketing is to attract, retain customers at a profit" Drucker (1999)
What are the concepts covered in Topic 1 Introduction to Marketing and Sales Definitions of Marketing Core Marketing Concepts Principles fundamentals of Marketing The evolution of philosophies of Marketing Critical Marketing variables Marketing in the 21st Century
Kolter & Armstrong (2010) The management process responsible for identifying, anticipating and satisfying customers requirements profitably" Kolter 2010.
What are the key concepts to marketing? Creating customer value and satisfaction are the key concepts of modern marketing thinking and practice
In David Packard's opinion what is marketing? Marketing is more than selling goods, services of ideas. It fits more with processes which focus on delivering value. and benefits to customers. (Mc Daniel, Lamb and Hair, 2013).
Who else has defined marketing? According to McDaniel, Lamb and Hair (2013) defined marketing as... "The activity, set of institutions, and processes for creating, delivering and offerings that have value for customers, clients, partners, and society at large"
Who said "Marketing is too important to be left only to the marketing department" David Packard Co-op founder of HP.
What is Kotler and Armstrong (2010) view of marketing? "Marketing is the delivery of customer satisfaction at a profit"
What is marketing AMA cited in Rogan? Marketing is an organisational function and a set of processes for creating, communication and delivering value to customers andfor managing customers relationships in ways that benefit the organisation and its stakeholders". AMA (2004) cited in Rogan (2011).
What are the two facets of Marketing Philosophies It is a philosophies, an attitude, a perspective, or a management orientation that stresses customer satisfaction. (An Art) 2. It is activities and processes used to implement this philosophy ( A Science) Source: McDaniel, Lamb & Hair (2013: p2)
What are the Core Marketing Concepts? 1. Needs, Wants and Demands 2. Products & Services 3. Exchanges (Source: Kolter. et al. 2010, in Donnelly 2013, p.7-8)
What is according to Peter Drucker (1999) the basic function of marketing? The basic function of marketing is to attract, retain customers at a profit" (Drucker, 1999)
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