Using the notes, please answer the following questions in adequate detail.
Watch grammar and spelling. Be sure to use terms from the notes provided.
Please organize and answer questions separately. Do not type the questions as it will take up the word count. Just label with corresponding numbers. No reference needed as the answers should come directly from the notes provided.
1.What is marketing? Briefly describe the marketing process.
2.Why do companies generally divide a market into segments of customers?
3.Briefly explain the societal marketing concept.
4.Define customer-perceived value.
5.Describe and compare the four types of customers classified by their potential profitability to an organization. Identify how an organization should manage each type of customer.
6.According to the Boston Consulting Group approach, how can a company classify its SBUs on a growth-share matrix?
7.Differentiate between the BCG matrix and the product/market expansion grid.
8.Discuss the four Ps of the typical marketing mix. Some people consider that there should be more than four marketing mix elements. Suggest two additional aspects that the marketing mix could include.
9.Explain the term “value delivery network.”
10.What is a business portfolio? How does a company typically conduct a portfolio analysis?
11.Describe the major trends in the natural environment that marketers need to be aware of.
12.Give an instance where a company exhibits social responsibility through business.
13.What is environmental sustainability? How does it affect the marketing environment? Provide examples to illustrate your response.
14.Briefly compare the three different types of research approaches used for gathering primary data.
15.Differentiate between the three types of marketing research objectives: exploratory research, descriptive research, and causal research.
16.Explain the steps involved in the marketing research process.
17.What is customer relationship management (CRM)? What are the functions of CRM? How do firms benefit from CRM systems?
18.What is neuromarketing? How is neuromarketing used by marketers?
19.Explain Maslow’s hierarchy of needs.
20.A consumer’s behavior is influenced by social factors, such as the consumer’s small groups, family, and social roles and status. Explain the differences among these social factors.
21.Explain the concepts of word-of-mouth influence, opinion leaders, and buzz marketing.
22.Explain the cultural factors that influence consumer behavior.
23.Explain why business demand is considered a derived demand. Provide an example
24.Identify the product characteristics that influence the rate of adoption of a product. Explain how each characteristic affects the rate of adoption.
25.What are personality traits, and how do they affect purchase behavior? Explain with an example.