What is Marketing?

Read this chapter, which defines and discusses the four components of marketing, identifies the various institutions and entities that engage in marketing activities, and emphasizes the importance of marketing in society. This chapter also outlines the marketing plan.

Discussion Questions and Activities

ACTIVITIES

  1. One of your friends is contemplating opening a coffee shop near your college campus. She seeks your advice about size of the prospective customer base and how to market the business according to the four Ps. What strategies can you share with your friend to assist in launching the business?
  2. You are considering working for United Way upon graduation. Explain how the marketing goals, strategies, and markets for the nonprofit differ from a for-profit organization.
  3. Think about the last time you ate at McDonald's. Evaluate your experience using the personal value equation.
  4. Marketing benefits organizations, customers, and society. Explain how an organization like DuPont benefits the community in which it operates as well as society at large.