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MKT 100 - Assignment Week 1

This document contains an assignment for a marketing course. It asks the student to answer 5 questions about marketing fundamentals. The questions cover definitions of marketing, the 5 alternative concepts of marketing management orientation, 10 types of products that can be marketed with an example for each, the 5 core customer and marketplace concepts, and a definition and example of marketing myopia.

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Cyrle Juanico
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64 views2 pages

MKT 100 - Assignment Week 1

This document contains an assignment for a marketing course. It asks the student to answer 5 questions about marketing fundamentals. The questions cover definitions of marketing, the 5 alternative concepts of marketing management orientation, 10 types of products that can be marketed with an example for each, the 5 core customer and marketplace concepts, and a definition and example of marketing myopia.

Uploaded by

Cyrle Juanico
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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MKT 100

Assignment Week 1

Name: CYRLE C. JUANICO


Section: BSBA-1C

Answer the following question:

1. What is marketing?

It refers to activities a company undertakes to promote the buying or


selling of a product or service. Marketing includes advertising, selling, and
delivering products to consumers or other businesses. It is done on the purpose
of making people aware of your business.

2. Give the 5 alternative concept of marketing management orientation.

 Production Concept. It assumes that its customers want the cheapest product
available and will strive to realize this price.
 Product Concept. This approach to business concerns its products and continually
improving and refining them so that the product can always be superior to that of its
competitors.
 Sales Concept. A sales orientated organization focuses the majority of its
resources on selling its products and services to its target audience.
 Marketing Concept. A market orientated organization looks at the market and its
target audience first, before any production or sales activities takes place, to learn
what potential customers want from organizations.
 Societal Marketing Concept. The societal orientation organization, considering its
product, process and its marketing, to an extent, focuses on the impact its
organization and products has within the societies it operates within, as well as the
wider environment.

3. Give 10 types of what we can market for consumer and give an example for
each type.
 1. Goods : Food products, Refrigerators
 2. Services : Includes the works of Hotels, Beauticians, Lawyers
 3. Experiences : Enchanted Kingdom, Travels
 4. Events : Sport-event games, Artistic shows
 5. Persons : Artists, Musicians, Physicians
 6. Places : Real estate agents, Commercial banks
 7. Properties : Real property ( real estate ), Financial property ( Stocks,
bonds, company shares )
 8. Organizations : Universities, Museums,
 9. Information : Magazines, Newspapers, Encyclopedias
 10. Ideas : The ideas behind the products, promoters of better nutrition,
environmental protection.

4. Give the 5 core customer and marketplace concepts.

 Needs wants, and demands,


 Market offerings such as products, services, and experiences,
 Value, satisfaction, and quality
 Exchange, transactions, and relationships, and
 Markets.

5. What is marketing myopia?

A short-sighted and inward looking approach to marketing that focuses on the


needs of the company instead of defining the company and its products in terms of the
customers' needs and wants. It results in the failure to see and adjust to the rapid
changes in their markets. Examples of Marketing Myopia, Kodak lost much of its share
to Sony cameras when digital cameras boomed and Kodak didn't plan for it. 

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