Prof.

Rushen Chahal
Lesson 1 Weekly Individual Exercise (Quiz / Essay) 1. Answer True or False 1. Marketing is both an art and a sciencethere is constant tension between the formulated side and the creative side. 2. The authors see marketing management as proper retail locations and internet business to the end user. 3. In the most generic sense, marketers seek to elicit a behavioral response from another party. 4. The following are entities which are commonly marketed: goods, services, distances, ideas, and information. 5. The computer metamarket consists of the manufacturers of computer memory chips, monitors, keyboards, coaxial cables, modems, software, storage systems (disks, hard drives, portable USB media), and those who install, repair, and maintain systems and software. 6. The marketing concept is epitomized by former Coca-Cola executive Sergio Zyman as follows: the purpose of marketing is to sell more stuff to more people more often for more money in order to make more profit. 7. The production concept holds that consumers will prefer products that are widely available and inexpensive. 8. The four Cs that correspond to the four Ps of the marketing mix are customer solution, costs, cooperation, and communication. 9. The societal responsibility marketing concept takes the marketing concept one step further by considering long-run societal welfare. 10. Cause-related marketing is a form of internal marketing. 2. You should attempt to answer these questions upon reading the chapter. Write a paragraph in your attempt to answer the questions. 1. What do you understand by the term 'marketing'? 2. What is a marketplace, marketspace? 3. Describe the marketing philosophies/principles/concepts and quote examples 4. Explain how dynamic marketing practices have changed in your country.