Marketing Lecture 1: Introduction and Course Overview

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What is the key reason why marketing takes a long time to master?

It requires active participation in lectures

It involves various periods in the history of marketing

It encompasses a holistic approach and many components (correct)

It involves reading course literature carefully

What does the marketing mix consist of?

Place, Production, Publicity, Profit

Product, Promotion, Price, Place (correct)

Price, Performance, Publicity, Place

Product, Price, Promotion, Performance

In the context of marketing, what is exchanged between a company and a customer?

Money and Performance

Ideas and Events

Products and Ideas (correct)

Services and Experiences

How can the scope of marketing be best described?

Meeting customer needs in a profitable way Signup and view all the answers

What is marketed according to the provided text?

Persons and Ideas Signup and view all the answers

What is AMA's definition of marketing focused on?

Creating societal value Signup and view all the answers

On which date do students analyze Business Markets and Marketing from a Macro Perspective?

Feb 29 Signup and view all the answers

What topic will students be focusing on during L5?

The STP Process Signup and view all the answers

What is the deadline for the Group Report?

March 22 Signup and view all the answers

Which topic will be covered in L7?

Creating and Managing Brands and Brand Equity Signup and view all the answers

What do students do prior to their individual exams?

Practice course content Signup and view all the answers

What will students focus on in L9?

Designing and Managing Mass Market Communication Signup and view all the answers

What are the 4Ps of marketing according to the simplified version by McCarthy (1960)?

Product, Price, Place, Promotion Signup and view all the answers

An example of physical evidence in the airline industry would be:

Frequent-flyer loyalty cards Signup and view all the answers

Which of the following is NOT a relevant element mentioned in the 'original' list by Borden (1964)?

Process Signup and view all the answers

What is included under the 'Place' element in marketing?

Mobile apps Signup and view all the answers

Which of the following is a pricing strategy used in the airline industry?

Differences in prices by passenger class Signup and view all the answers

A key target market for the airline industry is:

Business travelers Signup and view all the answers

What is the ultimate goal for any marketing activity?

Generate a sufficient level of profit Signup and view all the answers

In the context of marketing, what is demand linked to?

Human needs and wants Signup and view all the answers

During the sales period from the 1930s-1950s, what was the primary focus of marketing efforts?

Hard selling supported by market research Signup and view all the answers

What was the perception of customers during the production period (1870s-1930s) regarding competition?

Competition was acknowledged but was low Signup and view all the answers

What is the main difference between needs and wants in marketing?

Needs represent human requirements while wants represent specific objects Signup and view all the answers

What characterized the development of marketing during the production period (1870s-1930s)?

High demand and low supply Signup and view all the answers