1) Describe the marketing process and the basic elements of the marketing mix. Use examples to support your answer.
2) Explain the differences between goods and services. Give an example of a good and a service in the hospitality industry.
The organization must find a way to uncover unfulfilled needs of the customer and bring to market products that satisfies those needs. The marketing process begins with analyzing the business situation to identify opportunities, formulating strategies to develop value for the customer, making tactical decisions, implementing the marketing plan, and monitoring the results. For example, Apple uncovers unfulfilled needs of the smart phone customers and launches new models of iPhones to satisfy their needs.
The marketing mix is a combination of factors that can be controlled by an organization to influence consumers to purchase its products. Specifically the elements of ...
The answer to this problem explains the marketing process, marketing mix, and goods/service differences. The references related to the answer are also included.
Marketing Management: "What is Marketing?"
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Peter, J. Paul, and James H. Donnelly, Jr. Marketing Management: Knowledge and Skills, 8th edition
Problem:" What is Marketing?" My answer needs to be at least 2,500-3,000 words and should incorporate key terms from the text and online materials, as well as key concepts of the marketing process, strategic planning, relationships, tools and scope.
Answer should also be in your own words, but you can reference the textbooks, if you'd like. For example, you might want to focus on and explain the difference between products and services, relationships such as B2C and B2B and buyer behavior, integrated marketing communications, elements of the marketing mix, the digital age and global marketing, market segmentation and/or pricing.View Full Posting Details