LSUS MBA 706 Module 1 Q&A
Marketing - =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
Creating - =process of collaborati g with suppliers and customers to create offerings that have
value (components of marketing)
Communicating - =describing offerings to targeted customers in a manner which emphasizes
value, learn what cusotmers value and desire from offering (component)
Delivering - =getting offerings to the customer in a way that optimizes value (component)
Exchanging - =trading value for offerings (component)
Market - =Collection of buyers and sellers, in which groups of consumers or institutions share a
need that can be satisfied by an offering
Marketspaces - =Go beyond traditional marketers as they offer consumers the ability to purchase
offerings and exchange information online anytime and with far fewer geographical restrictions
Value - =benefits buyers receive that meet their needs (what consumer gets/what brand offers)
What is at the center of the 4 components of marketing? - =Value
Hassle - =the time and effort consumers put into shopping process
Market Concept - =a philosophy underlying all that marketers do, requires that marketers seek to
satisfy customers' wants and needs (market oriented)
Marketing - =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
Creating - =process of collaborati g with suppliers and customers to create offerings that have
value (components of marketing)
Communicating - =describing offerings to targeted customers in a manner which emphasizes
value, learn what cusotmers value and desire from offering (component)
Delivering - =getting offerings to the customer in a way that optimizes value (component)
Exchanging - =trading value for offerings (component)
Market - =Collection of buyers and sellers, in which groups of consumers or institutions share a
need that can be satisfied by an offering
Marketspaces - =Go beyond traditional marketers as they offer consumers the ability to purchase
offerings and exchange information online anytime and with far fewer geographical restrictions
Value - =benefits buyers receive that meet their needs (what consumer gets/what brand offers)
What is at the center of the 4 components of marketing? - =Value
Hassle - =the time and effort consumers put into shopping process
Market Concept - =a philosophy underlying all that marketers do, requires that marketers seek to
satisfy customers' wants and needs (market oriented)
