Marketing Study Guide

In: Business and Management

Submitted By JanniseH
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|[pic] |Principles of Marketing – MKT 3331 |
| |Winston Salem State University |
| |School of Business & Economics |
| | |

1. What is marketing? Marketing is the organizational function and set of processes for creating, communicating, and delivering value to customers and for managing customer relations in a way that benefits the organization and the stakeholders.

2. What are the four eras in the history of marketing (see below)? The Production Era: Era when business success was often defined solely in terms of production success. The Sales Era: In this era companies attempted to match their output to the potential number of customers that would want it. The Marketing Era: A shift in the focus from products and sales to satisfying customer needs. The Relationship Era: Focuses on establishing and maintaining relationships with customers and suppliers. 3. What is Marketing Myopia? Marketing Myopia is when managements fails to recognize the scope of its business. Product oriented instead of customer oriented hinders future growth.

4. What are the categories of Nontraditional Marketing (see below)? Person Marketing: Designed to cultivate attention and preference of a target market to a person (Athlete Peyton Manning) Place Marketing: Designed to attract customers to a particular area; improve consumer images of a city, state or nation. (Colorado: “Enter a…...

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