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Questions and Answers
What is the purpose of marketing?
What is the most commonly marketed entity type?
What type of ideas are social marketers promoting?
What is the difference between marketing to individuals and institutions?
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What is the difference between events and experiences?
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Study Notes
- Marketers market goods, services, experiences, persons, places, properties, and ideas.
- The bulk of most countries’ production and marketing efforts is devoted to physical goods.
- As economies advance, a growing proportion of their activities focuses on the production of services.
- Events and experiences are time-based, while places and properties are not.
- Organizations are the most commonly marketed entity type.
- Marketing to individuals and institutions requires different approaches.
- Marketing is the process of creating, delivering, and managing messages to create sales or increase the demand for a product or service.
- Every market offering includes a basic idea.
- Social marketers are busy promoting such ideas as “Friends Don’t Let Friends Drive Drunk” and “A Mind Is a Terrible Thing to Waste.”
- Marketing is important for nonprofits because they need to create a public image and compete for audiences and funds.
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Description
Test your understanding of marketing concepts including the marketing of goods, services, experiences, and ideas, as well as the different approaches for marketing to individuals and institutions.
