In this document, the objectives (*) from the beginning of each chapter are
answered with the MCQ from each chapter. I also added some extra questions to
highlight important points.
Chapter 1: Marketing principles and practice
1. Define the marketing concept. *
Marketing is defined as a social and managerial process by which individuals and
groups obtain what they need and want through creating and exchanging products and
value with others
Marketing applies anywhere ‘buyers’ have a choice
2. What are the concepts of exchange in marketing and the marketing mix? *
Exchange: The core of marketing is "exchange," the act of obtaining a desired object by
offering something in return.
Value: Customer value is the assessment of a product's capacity to satisfy needs,
calculated as the ratio between perceived benefits and costs (monetary and non-
monetary).
Relationship Marketing: The shift from transactional acquisition to retaining
customers long-term.
3. Explain how marketing has developed over the twentieth century and into
the twentieth-first century. *
The development of marketing over the twentieth and twenty-first centuries is explained
through a shift in focus and paradigms—moving from simple sales transactions to
complex, long-term relationships and co-creation.
• Product pull instead of product push
• Consumer retention instead consumer acquisition
• Service becomes the fundamental basis of exchange instead of physical
products
• The traditional marketing mix (4Ps or 7Ps) has expanded to include
Personalization. Technology allows companies (like Netflix or Amazon) to tailor
recommendations and experiences to the individual
• The discipline now studies how marketing affects society and the economy as a
whole, including the marketing of non-profits and sustainability (e.g.,
Nespresso's focus on regenerative agriculture).
1
, 4. Describe the three major concepts of marketing application, i.e. consumer
goods, business-to-business, and service marketing. *
• Consumer goods (B2C)
Definition: This context applies to tangible physical items sold to individuals.
Exchange Process: In a direct manufacturer-to-customer context, the exchange
involves the customer providing money (price for goods) in return for the
offering, return facilities, and customer service . In a retail context, the
customer pays a retail price.
• Business-to-business (B2B)
Definition: This context involves exchanges between organizations rather than
between a business and an individual consumer.
Exchange Characteristics: The slides describe the B2B exchange process (e.g.,
between a Manufacturer and a Retailer) as involving specific elements different
from consumer purchases:
Payment: The buyer pays a "wholesale price for goods" rather than a retail price.
Value Proposition: In return, the seller provides not just the offering, but also
credit facilities, return facilities, distribution arrangements, and other business
services.
• Service marketing:
Definition: This applies to intangible offerings and economic activities.
Examples: Examples provided include banking (ING), technology services
(Google), food delivery (Uber Eats), and streaming platforms (Netflix).
Extended Marketing Mix: Unlike physical products that rely on the standard 4
Ps (Product, Price, Place, Promotion), services require an extended marketing
mix of 7 Ps. The three additional Ps are: physical evidence, process, people
Service-Dominant Logic: Modern marketing views service as the fundamental
basis of exchange, where value is not just embedded in a product but is realized
through consumer use (value-in-use).
5. What is the positive contribution of marketing to society? *
Promoting Social Change and Safety (Social Marketing): Marketing is frequently used
to promote ideas that improve public welfare by changing behavior. The slides provide
specific examples of campaigns designed to enhance safety, such as road safety
initiatives promoting the use of safety vests and reflective triangles. Another major
example is the "Don't Drink & Drive" campaign, including the "BOB" concept
2
,(designated driver). Ethical causes are also highlighted, such as campaigns against
wearing fur.
Supporting Charities and Non-Profits: Marketing plays a vital role in the non-profit
sector by raising awareness and funds for critical causes. The slides mention large-
scale fundraising events like "De Warmste Week," which raised over €17 million. Other
examples include viral awareness campaigns like the "Ice Bucket Challenge" for ALS,
as well as global efforts for organizations like WWF (animal conservation) and Unicef
(e.g., highlighting the plight of child soldiers).
Driving Sustainability and Corporate Responsibility: Marketing drives organizations
toward sustainability and ethical practices, often referred to in the slides as the "Big
Picture." This includes a focus on "People and Communities" (protecting workers'
rights), "Climate and Biodiversity" (regenerative agriculture), and the "Circular
Economy." Nespresso is used as a specific case study for this positive impact,
highlighting its journey toward B Corp certification, "restorative leadership," and digital
transparency from farmer to cup.
Economic and Developmental Role (Macromarketing): On a broader level, marketing
helps develop and transform society. It drives innovation and creates value, providing
people with more consumption choices and possibilities. This aspect of
"Macromarketing" studies how marketing processes affect the economy and society as
a whole.
Responsible Leadership: The slides also note that CEOs with a marketing background
often outperform their peers in terms of being socially responsible, inclusive, and
maintaining a long-term vision.
6. What is the difference between customers and consumers?
Customer: is the person who buys the product/service
Customer: is the person who uses the product/service
7. What are the consumers’ buying roles?
3
, 8. What is Market Orientation?
Definition: “The organization-wide generation of market intelligence pertaining to
current and future customer needs, dissemination of the intelligence across the
departments, and organization-wide responsiveness to it”
• Organization-wide belief in delivering customer value
• Create products to meet existing and latent needs
3 main components (for long-term profit)
• Customer orientation
• Competitor orientation
• Interfunctional coordination
9. What are the differences between sales and marketing?
Sales: Product push, short-term focus on satisfaction of customer needs → customer
acquisition
Marketing: Product pull, long-term focus on satisfaction of customer needs, high focus on
stimulation of demand → customer retention
10. What do Marketeers do?
They place the customer at the center of a company’s operations and decision-making
processes. Doing this by:
• Generating customer insights
4
answered with the MCQ from each chapter. I also added some extra questions to
highlight important points.
Chapter 1: Marketing principles and practice
1. Define the marketing concept. *
Marketing is defined as a social and managerial process by which individuals and
groups obtain what they need and want through creating and exchanging products and
value with others
Marketing applies anywhere ‘buyers’ have a choice
2. What are the concepts of exchange in marketing and the marketing mix? *
Exchange: The core of marketing is "exchange," the act of obtaining a desired object by
offering something in return.
Value: Customer value is the assessment of a product's capacity to satisfy needs,
calculated as the ratio between perceived benefits and costs (monetary and non-
monetary).
Relationship Marketing: The shift from transactional acquisition to retaining
customers long-term.
3. Explain how marketing has developed over the twentieth century and into
the twentieth-first century. *
The development of marketing over the twentieth and twenty-first centuries is explained
through a shift in focus and paradigms—moving from simple sales transactions to
complex, long-term relationships and co-creation.
• Product pull instead of product push
• Consumer retention instead consumer acquisition
• Service becomes the fundamental basis of exchange instead of physical
products
• The traditional marketing mix (4Ps or 7Ps) has expanded to include
Personalization. Technology allows companies (like Netflix or Amazon) to tailor
recommendations and experiences to the individual
• The discipline now studies how marketing affects society and the economy as a
whole, including the marketing of non-profits and sustainability (e.g.,
Nespresso's focus on regenerative agriculture).
1
, 4. Describe the three major concepts of marketing application, i.e. consumer
goods, business-to-business, and service marketing. *
• Consumer goods (B2C)
Definition: This context applies to tangible physical items sold to individuals.
Exchange Process: In a direct manufacturer-to-customer context, the exchange
involves the customer providing money (price for goods) in return for the
offering, return facilities, and customer service . In a retail context, the
customer pays a retail price.
• Business-to-business (B2B)
Definition: This context involves exchanges between organizations rather than
between a business and an individual consumer.
Exchange Characteristics: The slides describe the B2B exchange process (e.g.,
between a Manufacturer and a Retailer) as involving specific elements different
from consumer purchases:
Payment: The buyer pays a "wholesale price for goods" rather than a retail price.
Value Proposition: In return, the seller provides not just the offering, but also
credit facilities, return facilities, distribution arrangements, and other business
services.
• Service marketing:
Definition: This applies to intangible offerings and economic activities.
Examples: Examples provided include banking (ING), technology services
(Google), food delivery (Uber Eats), and streaming platforms (Netflix).
Extended Marketing Mix: Unlike physical products that rely on the standard 4
Ps (Product, Price, Place, Promotion), services require an extended marketing
mix of 7 Ps. The three additional Ps are: physical evidence, process, people
Service-Dominant Logic: Modern marketing views service as the fundamental
basis of exchange, where value is not just embedded in a product but is realized
through consumer use (value-in-use).
5. What is the positive contribution of marketing to society? *
Promoting Social Change and Safety (Social Marketing): Marketing is frequently used
to promote ideas that improve public welfare by changing behavior. The slides provide
specific examples of campaigns designed to enhance safety, such as road safety
initiatives promoting the use of safety vests and reflective triangles. Another major
example is the "Don't Drink & Drive" campaign, including the "BOB" concept
2
,(designated driver). Ethical causes are also highlighted, such as campaigns against
wearing fur.
Supporting Charities and Non-Profits: Marketing plays a vital role in the non-profit
sector by raising awareness and funds for critical causes. The slides mention large-
scale fundraising events like "De Warmste Week," which raised over €17 million. Other
examples include viral awareness campaigns like the "Ice Bucket Challenge" for ALS,
as well as global efforts for organizations like WWF (animal conservation) and Unicef
(e.g., highlighting the plight of child soldiers).
Driving Sustainability and Corporate Responsibility: Marketing drives organizations
toward sustainability and ethical practices, often referred to in the slides as the "Big
Picture." This includes a focus on "People and Communities" (protecting workers'
rights), "Climate and Biodiversity" (regenerative agriculture), and the "Circular
Economy." Nespresso is used as a specific case study for this positive impact,
highlighting its journey toward B Corp certification, "restorative leadership," and digital
transparency from farmer to cup.
Economic and Developmental Role (Macromarketing): On a broader level, marketing
helps develop and transform society. It drives innovation and creates value, providing
people with more consumption choices and possibilities. This aspect of
"Macromarketing" studies how marketing processes affect the economy and society as
a whole.
Responsible Leadership: The slides also note that CEOs with a marketing background
often outperform their peers in terms of being socially responsible, inclusive, and
maintaining a long-term vision.
6. What is the difference between customers and consumers?
Customer: is the person who buys the product/service
Customer: is the person who uses the product/service
7. What are the consumers’ buying roles?
3
, 8. What is Market Orientation?
Definition: “The organization-wide generation of market intelligence pertaining to
current and future customer needs, dissemination of the intelligence across the
departments, and organization-wide responsiveness to it”
• Organization-wide belief in delivering customer value
• Create products to meet existing and latent needs
3 main components (for long-term profit)
• Customer orientation
• Competitor orientation
• Interfunctional coordination
9. What are the differences between sales and marketing?
Sales: Product push, short-term focus on satisfaction of customer needs → customer
acquisition
Marketing: Product pull, long-term focus on satisfaction of customer needs, high focus on
stimulation of demand → customer retention
10. What do Marketeers do?
They place the customer at the center of a company’s operations and decision-making
processes. Doing this by:
• Generating customer insights
4
