summary principles of marketing 19th edition kotler 9781292449364 test bank questions
,summary principles of marketing 19th edition kotler 9781292449364 test bank questions
, summary principles of marketing 19th edition kotler 9781292449364 test bank questions
Chapter 1
Marketng: a process by which companies create value for customers and
build strong customer relationships to capture value from customers in
return. Managing profitable customer relationships.
The Marketing Process:
There are 5 core customer and marketplace concepts:
1) Needs, wants, and demands
2) Market offerings (products, services, and experiences)
3) Value and satisfaction
4) Exchanges and relationships
5) Markets
States of felt deprivation
Physical—food, clothing, warmth, safety
Needs Social—belonging and affection Individual
—knowledge and self-expression
Wants Form that needs take as they are shaped by culture and individual
personality
Demands Wants backed by buying
power
2) market offerings: are some combination of products, services, information
or experiences offered to a market to satisfy a needs or want
Marketing offers are not limited to physical products but they also include
services. Service: acitivies or benefits offered for sale that are essentially
intangible and do not result in the ownership of anything. (hotel)
More broadly, market offerings also include other entities, such as:
- Persons
- Places
- Organizations
- Information
- Ideas
Marketing myopia: is focusing only on existing wants and losing sight of
underlying customer needs. They forget that a product is only a tool to solve
,summary principles of marketing 19th edition kotler 9781292449364 test bank questions
, summary principles of marketing 19th edition kotler 9781292449364 test bank questions
Chapter 1
Marketng: a process by which companies create value for customers and
build strong customer relationships to capture value from customers in
return. Managing profitable customer relationships.
The Marketing Process:
There are 5 core customer and marketplace concepts:
1) Needs, wants, and demands
2) Market offerings (products, services, and experiences)
3) Value and satisfaction
4) Exchanges and relationships
5) Markets
States of felt deprivation
Physical—food, clothing, warmth, safety
Needs Social—belonging and affection Individual
—knowledge and self-expression
Wants Form that needs take as they are shaped by culture and individual
personality
Demands Wants backed by buying
power
2) market offerings: are some combination of products, services, information
or experiences offered to a market to satisfy a needs or want
Marketing offers are not limited to physical products but they also include
services. Service: acitivies or benefits offered for sale that are essentially
intangible and do not result in the ownership of anything. (hotel)
More broadly, market offerings also include other entities, such as:
- Persons
- Places
- Organizations
- Information
- Ideas
Marketing myopia: is focusing only on existing wants and losing sight of
underlying customer needs. They forget that a product is only a tool to solve
