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MKTG 25010 Study Guide - Quiz Guide: American Marketing Association, Relationship Marketing, Customer ExperienceExam


Department
Marketing
Course Code
MKTG 25010
Professor
Lawrence J.Marks
Study Guide
Quiz

This preview shows pages 1-3. to view the full 12 pages of the document.
21
Chapter 1: Creating Customer Relationships and Value Through
Marketing
I) What IS Marketing?
a) YOU are involved in Marketing every day, BUT you are NOT a
__________________________________
II) Marketing Defined
a) The American Marketing Association Definition:
Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.”
https://www.ama.org/AboutAMA/Pages/Definition-of-Marketing.aspx
b) Some controversy about the definition:
http://adage.com/article/btob/ama-s-definition-marketing-stirs-debate/270398/
c) Kosec…Importance of Marketing to Time Warner Business Services
i) Collect Marketing _______________________________________________
ii) Helps to determine ______________________________________________
iii) Use research and tools to__________________________________________
iv) Through Brand _________________________________________________
d) Marketing seeks to:
i) Discover ______________________________ of customers
ii) Satisfy_________________________________________
iii) At a ___________________________________________
iv) Through an _____________________________________
e) It involves the idea of ____________________ which is the trade of things of
value between buyer and seller so that each is better off after the trade.
f) And today is delivered though an excellent “customer experience.”
i) We are in an Age of Experience.”
g) Dassault Systemes video (www.3ds.com)
i) We live in an age where the aesthetics of a ____________ or
practicalities of a ______________ are not enough.
ii) Consumer engagement and _________________ count more.
iii) Consumers expect to interact with, or even _________________
suppliers; not just be “sold to.”
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Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

22
iv) The “Age of Experience” has arrived. We need to deliver consumer
experiences that demonstrate true differentiation.
v) To do this businesses must capture insights and ______________ from
across the business’ entire ecosystem.
vi) This “integrated effort” includes Marketing, Management, Sales, and
Engineering.
vii) Businesses need to ask the right questions of the right people to put
consumer experience at the heart of innovation.
III) Factors Influencing Marketing
a) The Organization
i) Mission
(1) Goals and Objectives
ii) Management and people skills
iii) Resources
b) Society
c) Environmental Factors
(See text, page 6, Figure 1-2, A marketing department relates to many people,
organizations, and environmental forces)
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Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

23
d) Ways to Satisfy Needs (for example, a funny birthday card). You could:
1.
2.
3.
e) The Point: Only the last describes an ___________________________ in
the Marketing sense.
IV) Requirements for Marketing to Occur
a) Two or more ________________ involved in a voluntary
__________________, each with unsatisfied _________________
b) Each must have a ____________ and _____________ to engage in an
exchange
c) They need to be able to ______________________
d) Each party must have something of____________________ to exchange.
V) What DO people want?
To satisfy consumers’ needs, wants and desires (at a profit, through an
integrated effort of the organization), we need to understand ______________
____________________________________________________.
a) BUT, people may not ___________________what they want, or
b) People may not be able to ________________ what they want, or
c) People may not be able to __________________________the future and
how unknown products might satisfy them
VI) Needs and Wants
a) Consumer NEEDS come from ___________________________
i) These are basic to life and society and include the need for food and
shelter, the need to be safe, the need to belong and be loved, etc.
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