MKT 3340 Exam 1
Formal definition of Marketing - Answers -process of planning and executing the
conception, pricing, promotion, and distribution of stuff to create exchanges that satisfy
people
The goal of marketing is - Answers -exchange
exchange - Answers -people giving up something to receive something they would
rather have
What is the 4 P's of marketing - Answers -price: exchanging value
Place/ Distribution: Delivering value
Promotion: communicating value
Product: creating value
Customer Value - Answers -the relationships between benefits and the sacrifice
necessary to obtain those benefits
How do marketers improve customer value? - Answers -1. explain how your product
solves customers' problem or improve their situations
2. Tell the customer why they should buy from you and not your competition
Evolution of Marketing - Answers -1. Production era- -1930
2. Sales era- 1930-1970
3. Marketing concept era- 1950-
4. Societal marketing concept era 1950-
4 Different Marketing Management Philosophies (orientations) - Answers -1.
Production- what can we make best?
2. Sales- How can we sell more aggressively?
3. Market- what do customers need?
4. Societal- What do customers want and need, and how can we benefit society?
Fortenberry's Core Marketing Concerns Model - Answers -Big circle- marketing
infrastructure
3 small circles- Research concerns, Communication Concerns, Product Concerns
What's is in the promotional mix? - Answers -advertising, personal selling, publicity,
sales promotion, packaging, PR, POP display, Brand name,
-social media marketing, direct marketing
Why study marketing? - Answers -important to society
, important to business
good career opportunities
501(c)(3) - Answers -nonprofit organizations.
don't pay income tax
must provide a public benefit
non-governmental organization - Answers -non-profits that focus help bring citizens'
problems to the US
Top 10 charities in the US - Answers -1. United Way
2. Salvation Army
3. Feeding America
4. Task Force for Global Health
5. American National Red Cross
6. Food for the Poor
7. Goodwill
8. YMCA
9. American Cancer Society
10. St. Jude Children's Research Hospital
Nonprofit partners - Answers -Methodist Childrens Home
Humane Society
TMTL
Shepherds Heart
Neighbor Works
10 Realities for Nonprofit Marketing - Answers -1. Marketing is not a dirty word
2. There is no such thing as the general public
3. You need to build your own media empire
4. All generations- including seniors- are online
5. Nonprofit Communicators are transforming into community organizers
6. Personal and organizational personalities, or Brands, are bleeding
7. Good nonprofit marketing takes more time than money
8. You've already lost control of your message, stop pretending otherwise
9. Marketing is not fundraising, but it is essential to it
10. Old-fashioned basics still work best, even online
Quick and Dirty Marketing - Answers -1. Who are you trying to reach?
2. What is our message?
3. What is the best way to deliver our message?
Stages of the Research Process - Answers -1. Formulate Problem
2. Determine Research Design
3. Determine Data Collection Method
4. Determine Data Collection Forms
Formal definition of Marketing - Answers -process of planning and executing the
conception, pricing, promotion, and distribution of stuff to create exchanges that satisfy
people
The goal of marketing is - Answers -exchange
exchange - Answers -people giving up something to receive something they would
rather have
What is the 4 P's of marketing - Answers -price: exchanging value
Place/ Distribution: Delivering value
Promotion: communicating value
Product: creating value
Customer Value - Answers -the relationships between benefits and the sacrifice
necessary to obtain those benefits
How do marketers improve customer value? - Answers -1. explain how your product
solves customers' problem or improve their situations
2. Tell the customer why they should buy from you and not your competition
Evolution of Marketing - Answers -1. Production era- -1930
2. Sales era- 1930-1970
3. Marketing concept era- 1950-
4. Societal marketing concept era 1950-
4 Different Marketing Management Philosophies (orientations) - Answers -1.
Production- what can we make best?
2. Sales- How can we sell more aggressively?
3. Market- what do customers need?
4. Societal- What do customers want and need, and how can we benefit society?
Fortenberry's Core Marketing Concerns Model - Answers -Big circle- marketing
infrastructure
3 small circles- Research concerns, Communication Concerns, Product Concerns
What's is in the promotional mix? - Answers -advertising, personal selling, publicity,
sales promotion, packaging, PR, POP display, Brand name,
-social media marketing, direct marketing
Why study marketing? - Answers -important to society
, important to business
good career opportunities
501(c)(3) - Answers -nonprofit organizations.
don't pay income tax
must provide a public benefit
non-governmental organization - Answers -non-profits that focus help bring citizens'
problems to the US
Top 10 charities in the US - Answers -1. United Way
2. Salvation Army
3. Feeding America
4. Task Force for Global Health
5. American National Red Cross
6. Food for the Poor
7. Goodwill
8. YMCA
9. American Cancer Society
10. St. Jude Children's Research Hospital
Nonprofit partners - Answers -Methodist Childrens Home
Humane Society
TMTL
Shepherds Heart
Neighbor Works
10 Realities for Nonprofit Marketing - Answers -1. Marketing is not a dirty word
2. There is no such thing as the general public
3. You need to build your own media empire
4. All generations- including seniors- are online
5. Nonprofit Communicators are transforming into community organizers
6. Personal and organizational personalities, or Brands, are bleeding
7. Good nonprofit marketing takes more time than money
8. You've already lost control of your message, stop pretending otherwise
9. Marketing is not fundraising, but it is essential to it
10. Old-fashioned basics still work best, even online
Quick and Dirty Marketing - Answers -1. Who are you trying to reach?
2. What is our message?
3. What is the best way to deliver our message?
Stages of the Research Process - Answers -1. Formulate Problem
2. Determine Research Design
3. Determine Data Collection Method
4. Determine Data Collection Forms
