MKTG201Questions and Answers
marketing ✅✅create, capture, communicate, and deliver value to satisfy their needs and
wants
old view of marketing ✅✅making a sale - "telling and selling" (product-oriented)
new view of marketing ✅✅Satisfying customers' needs & wants (customer-oriented)
mission statement ✅✅a statement of the organization's purpose - what it wants to
accomplish in the larger environment
strengths ✅✅s in SWOT
weaknesses ✅✅w in SWOT
opportunities ✅✅o in SWOT
, Threats ✅✅t in SWOT
segmentation ✅✅how we will define our markets (s in STP)
targeting ✅✅who we will attempt to reach (t in STP)
positioning ✅✅what we will say to customers (p in STP)
market ✅✅people with sufficient purchasing power, authority, and willingness to buy
product ✅✅creating value (4Ps)
price ✅✅capturing value (4Ps)
place ✅✅delivering value (4Ps)
marketing ✅✅create, capture, communicate, and deliver value to satisfy their needs and
wants
old view of marketing ✅✅making a sale - "telling and selling" (product-oriented)
new view of marketing ✅✅Satisfying customers' needs & wants (customer-oriented)
mission statement ✅✅a statement of the organization's purpose - what it wants to
accomplish in the larger environment
strengths ✅✅s in SWOT
weaknesses ✅✅w in SWOT
opportunities ✅✅o in SWOT
, Threats ✅✅t in SWOT
segmentation ✅✅how we will define our markets (s in STP)
targeting ✅✅who we will attempt to reach (t in STP)
positioning ✅✅what we will say to customers (p in STP)
market ✅✅people with sufficient purchasing power, authority, and willingness to buy
product ✅✅creating value (4Ps)
price ✅✅capturing value (4Ps)
place ✅✅delivering value (4Ps)
