Questions and Answers
Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
True
The process of marketing involves identifying customer needs and wants, and then satisfying them via products profitably.
True
The concept of marketing is not concerned with understanding customer needs and wants.
False
The changing marketing landscape is not a part of the learning objectives of Chapter-1.
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Preparing an Integrated Marketing Plan and Program is the final step in the marketing process.
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Study Notes
Marketing Definition
- Marketing is the process of creating value for customers and building strong customer relationships to capture value from customers in return.
Marketing Process
- Involves identifying customer needs and wants.
- Satisfies customer needs and wants via products profitably.
Misconception
- The concept of marketing is not solely about understanding customer needs and wants.
Learning Objectives
- The changing marketing landscape is not a part of the learning objectives of Chapter-1.
Marketing Process Steps
- Preparing an Integrated Marketing Plan and Program is the final step in the marketing process.
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Description
Understand the evaluation components and weights for the Principles of Marketing course, including midterm, class participation, and final exam. Learn about the recommended book and the learning objectives of the course.
