MAC3701 Assignment 2 Semester 2 Memo

MAC3701 Assignment 2 Semester 2 Memo According to your text, what is the most basic concept in marketing? - answer-determining the difference between consumer needs and wants All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT? - answer-profit. Daphne used to work in the city where she would take public transportation to work. However, she just took a new job in the suburbs and now not only has to find a place to live, but also has to buy a car to get to and from her job. For Daphne, these things represent? - answer-a need. In marketing, an exchange refers to? - answer-buyers and sellers trading things of value so that each is better off as a result. Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor activities. In an effort to stave off competition, the company has begun keeping a log of customer interests and hobbies so it can alert them to local events of relevance to them as well as send them articles that pertain to their favorite activities. In addition, Outdoor Adventures has added a section to their website where customers can post pictures of themselves using the stores gear. These efforts illustrate how the firm is engaged in? - answer-relationship marketing. What is the premise behind the marketing concept? - answer-a focus on satisfying the needs of the customer A company that has a market orientation and adheres to the marketing concept does NOT? - answer-fuel sales growth through the application of aggressive sales techniques A problem facing the timber industry is the absence of any effective way to prove that rain forest timber has been legally harvested. In places like Indonesia, as much as 80 percent of timber available for sale is illegally cut. Companies like The Home Depot do not want to sell timber from illegally logged forests even though the demand is great for timber from rain...