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Unformatted text preview: M KT 120 Chapter 1 Homework *** Read Chapter 1 from your textbook and answer the following questions. *** Q1 Describe marketing (page 4). A1 Marketing is the activity, set of institution, and processes for creating, capturing, communication, delivering, and exchanging offers that have value for customers, clients, partners, and society at large. Q2 Describe the 4 Ps of the marketing mix (page 6). A2 Product, price, place, and promotion. The four Ps, or marketing mix, are the controllable set of activities that the firm uses to respond to the wants of its target markets. Product: creating value. Price: capturing value. Place: delivering the proposition. Promotion: communication the value of the proposition. Q3 Describe the goal of promotion activities (page 8). A3 To enhance a product or services value. Q4 Describe the difference between B2B, B2C, and C2C (page 9)....
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- Summer '11