1. Define Marketing. How does the presence of a demarketing strategy affect your definition?

marketing is the process of exchange of goods and services between organizations and individuals, by which companies create value for the customers and build strogn customer relationship in order to capture value from customers in return. Tha presence of demarketing strategy can affect the definition because it reduce or terminate the market demand. However, now exchanges and partners are frequently created. 2. hat is the marketing concept? marketing concept is a philosophy that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do. The organization must first identify consumers wants and needs. Then attempt to satisfy customer better than the competition. 3. What is marketing mix? your definition should also include the mix variables.

marketing mix, is the set of tactical marketing tools the firm blend and uses to produce the response it wants in the target market, also to implement its marketing strategy. The major marketing mix tools are classified into four broad groups, called the four Ps of marketing:
The four Ps of marketing: 1) Product: means the goods-and-services combination the company offers to the target market. 2) Price: is the amount of money customers must pay to obtain the product. 3) Place: includes company activities that make the product available to target consumers. 4) Promotion: means activities that communicate the merits of the product and persuade target customers to buy it. 4. Define the following: a. Market segment: is the group or cluster of consumers that respond similarly to marketing stimuli due to shared wants and needs b. Target market: is a market focused to specific customers. The target

market divide the market into segments of customers and selecting which segments it will go after. 5. Of what importance is the concept of elasticity to marketers? Your response should adress the potential relationship between the marketing mix and the consumer's evoked set formation. The concept of elasticity to marketers is the importance because it measures the customers responsiveness to market stimuli, it develop to elicit market response. Also its expand the market and, the marketing mix is used to set tactical tools that the firm blends to produce the response of its wants. The consumer consumer evoked set formation ranks the order of consumer brand preferences. The relationship between elastic responses to change in the blend of the marketing mix and its potential to alter the rank ordering of brand preference has not been established. 6. Discuss how the environmental forces, both macro and micro,

impact the marketing efforts of global companies The environmental forces 7. Define primary research. Note the conventional approaches to collecting primary data. How do marketers make use of database marketing? Briefly discuss.

primary Research: Generating original data. the conventional approaches to collecting primary data would be observational research that are the psychology, experimental research that represent the field of science and surveys that could be mail questionaries, phone interviews or personal interviews/focus groups. Marketers make use of database marketing to stored customer information in order to maintain an effective CRM. Its requires special investments and can lead to upselling to crosselling. Define the following: a. Planning horizon: The timeline for which an organization can establish his objectives. b. performance gap: is the difference between the expected and the actual result. c. Roll planning: Corrective action or measure taking in the Planning Horizon due to a performance gap. 9. List and define the four generally accepted strategies. Briefly cite and define sub-strategies when applicable. 1. Growth: increase the market share o Intensive: Product development: introduce a new product to the current market. Market development: take an existing product to a new market. Market penetration: taking an existing product deeper into a current market. o Integrated: mergers and acquisitions Horizontal : acquiring an industry competition Vertical: can be backward when it controls subsidiaries that produce some of the inputs used in the production of its products and forward when it controls distribution centers and retailers where its products are sold. 2. Maintenance/ Holding: keep the status quo ( keep what we have going on at that same level) 3. Divesture: systematically reduce market share in great proportions, it can lead to abandonment. 4. Abandonment: Terminate the resources. Abandon market share Pull out from a certain business decision