Analytic skills

120) Marketing has been described as being both an "art" and a "science." Discuss the differences and similarities between these two marketing thrusts. Provide your theoretical response and a "real-life" example where you have seen both processes work effectively at creating customer value and loyalty.

121) Marketers are involved in marketing 10 types of entities. List and briefly characterize these entities.

122) Marketers should be skilled in stimulating demand for a company's products. Just as production and logistics professionals are responsible for supply management, marketers are responsible for demand management. Marketing managers seek to influence the level, timing, and composition of demand to meet the organization's objectives. List and briefly characterize the eight different demand states.

123) Consumers often have many needs that are not readily obvious. Just observing their behavior inside a retail store is not enough to get a true understanding of their "needs." List and briefly describe the five types of needs that most consumers have.

124) Distinguish between the concepts of value and satisfaction.

125) Assume that you have been given the task of assisting a company in designing its marketing planning process. What components should be in such a process?

126) The competing concepts under which organizations have conducted marketing activities include: the production concept, product concept, selling concept, marketing concept, and holistic marketing concept. Evaluate the advantages and disadvantages of each concept. Which concept do you believe is the most effective? Why?

127) Define internal marketing and its role in the company. Outline how various departments within the company can demonstrate a customer focus.

128) According to Starbucks Chairman Howard Schultz, "Consumers now commonly engage in a