Question

In your own words define and explain “marketing concept” and the “4P’s.” Provide an example of a company that uses one or both approaches.
• Define “marketing” and “sales” and explain how they are different from one another. How are they dependent upon one another?
• Does “marketing” have a function in church operations? Explain and support your answer.

Generational trends lead to distinctly different attitudes, values, and behavioral patterns that must be considered when developing a market plan.

• Identify the “generational cohorts” according to our text, and explain their differences in values and motivational factors.
• Identify an advertisement or commercial that targets only one of the generational groups. Describe the promotion in detail and identify the intended group.

Explain how the Scripture verse “Jesus Christ is the same yesterday and today and forever” (Heb. 13.8) relates to the “generational cohort” discussion in the above exercise.

Answer 1

Answer :- Marketing concept is a total system of interacting business activities designed to plan, price, promote and distribute wants satisfying products and services to target customers to achieve organizational objectives. Marketing includes all activities involved in conceptualization, creation, communication and delivery of products and services which are valuable and satisfying for the customer. Marketing is the process by which products are matched with markets and through which the consumer is able to use and enjoy the product.

Marketing concept is an important for the well-being of business as well as the society. Marketing is the distinguishing and unique feature of business. Marketing concept suggests integration of all business activities to create and supply the products and services which consumers want and at the time, place and price which they are able and willing to pay for. Marketing orientation implies that focus on satisfaction of customer's needs is the key to the success of any organization in the market.

Marketing is the focal point of all business activities. The success of business enterprise depends on efficient marketing. Manufacturing, finance, personnel and other activities of business revolve around marketing. Marketing has become vital for the survival and growth of business due to large scale production, changing technology, and sophisticated tastes and preferences of customers. Marketing helps to synchronize production with consumption.

Marketing is concerned with exchange of goods and services from producers to consumers or users in such as way that maximizes the satisfaction of customers' needs. Marketing consists of number of activities including gathering and analyzing market information, effective marketing planning, product designing and development, standardisation and grading, packaging and labeling, branding, customer support services, pricing of product, promotion, etc.

Marketing is a social process wherein buyers and sellers interact with each other so that buyers' needs are satisfied through suitable goods and services offered by the sellers. Marketing implies that focus on satisfaction of customers' needs is the key to the success of any business organization in the market.

Marketing strategy is the process of planning, organizing, directing and controlling the activities related to the marketing of goods and services to satisfy the customers' needs and achieve organization objectives. Marketing strategy emphasizes on the determination of the requirements of potential customers and supplying products to satisfy their requirements.

Marketing involves exchange of goods and services between buyer and seller for money (or valuable consideration). For this the parties (buyers and sellers) are free to interact and accept or reject the offer of each other. There is no compulsion for participating in the exchange process.

Marketing program is based on the following pillars: -

i). Identification of customers or the target market.

ii). Understanding the needs and wants of the customers or the target market.

iii). Developments of products or services for satisfying the needs of the target market.

iv). Satisfying the needs of target market better than the competitors.

v). Ensuring profitable sales for the business.