BUS051 HW11 - Sharon Ng Professor Henderson BUS051 14 July...

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Sharon Ng Professor Henderson BUS051 14 July 2011 Lesson 11 Homework Martin Winner, a Denver businessman, has had a successful career in marketing, starting out in retail sales and moving up through positions in industrial sales and public relations. Seeking a new challenge and hoping to move south, Martin decides to look for a new job in Texas, New Mexico, or Arizona. Martin is delighted to be hired as the Director for Marketing at Panther Shoes, a manufacturer of athletic apparel. 1. Martin is surprised at the narrow scope of his responsibilities and he wishes to explain to his boss that marketing is more than just advertising. Help Martin by giving a more complete definition of marketing and explain why this definition might be the key to success. Answer: Marketing is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and enhancing offerings that have value for customers, clients, partners, and society at large. Successful marketing strategies will increase value for customers. When marketing, we must consider a consumer’s utility, or the ability of a product to satisfy a human want or need. Marketing strives to provide
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