- test 1
- Marketing has two components or facets. Name and describe each of these two facets.
- What is the textâs definition of marketing?
- Exchange is the key concept in the definition of marketing. What is the concept of exchange? What are the five conditions of exchange that must be satisfied for marketing to occur?
- There are five conditions that must be satisfied for an exchange to take place. However, even if all of these conditions are met, exchange may not necessarily take place. Give an example of a situation in which all conditions are met, but exchange does not take place. Can marketing occur, even if an exchange does not take place? Why or why not?
- What is the marketing concept? On what is this philosophy based?
- Four competing philosophies strongly influence the role of marketing and marketing activities within an organization. Name and briefly describe each of these four philosophies.
- If a firm has a production orientation, what types of questions does management ask after assessing its resources? How would these questions differ for a service organization?
- The engineer entrepreneur that has set up a company to manufacture and market all-terrain vehicles has decided that a sales orientation would suit his new company the best. What are important considerations for this firm when it adopts this orientation? What are potential pitfalls of this orientation?
- A market-oriented organization may choose not to deliver the benefits sought by customers because these benefits are not in the best interest of the individual or society. This is termed the societal orientation. What does this concept mean in terms of organizational justification? List three current issues where the societal orientation concept may need to be applied.
- Describe a real company that has a societal marketing orientation.
- What is the philosophy of the marketing concept and market orientation? What three key areas does the marketing concept and market orientation involve?
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