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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 service’s value. Q4 – Describe the difference between B2B, B2C, and C2C (page 9)....
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- Summer '11
- Marketing, Customer Relationship Marketing, Value-Based Marketing Era, value-driven fi rms, Sales-oriented era manufactures, rket-oriented era manufactures