Week 1
Weekly Questions 1. In your own words, define marketing. Marketing is the process of selling and obtaining products and services through social activities. 2. Give some example of marketing activities that you see out in the “real world”. For example, Coles sells food and necessity to people. The shop of Clinique provides some cosmetics to the women. Central market sells lots of fruits to people. 3. Explain the ‘marketing philosophy’. What is the difference between the ‘marketing philosophy’ and a ‘market orientation’? Marketing philosophy: a) Production concept----focus on manufacturing efficiency b) Product Concept----focus on quality - as the firm sees it c) Selling Concept----focus on ‘just sell it’ d) Marketing Concept----achieving goals depends on knowing needs and fulfilling them e) Societal Marketing Concept----is serving individual wants what’s best in the long run Marketing orientation is to know the demand and need of customers and create customer value from the information. Marketing concept is an attitude to customer, companies focus on what customers need and understand customers deeply and create the products customers want. 4. Discuss the new marketing challenges in the 21st century as per chapter 1.s a) Growth of non-profit marketing b) Rapid globalisation c) IT & Electronic marketing d) Changing world economy e) Ethics and social responsibility f) Accountability g) Market orientation h) New market landscape 5. The text discusses the growth of marketing activity among not-for-profit organisations. Think of a non-profit organisation that has prominent marketing activity. How does a not-for-profit fit into the marketing system shown on p.11? Who would be some of the intermediates of the