Answer Instructor Questions

Chapter 1 Questions

1.Define the role of marketing in organizations.

2.Describe how marketers create value for a product or service.

3.Understand why marketing is important, both within and outside the firm.

Chapter 2 Questions

1.Define a marketing strategy.

2.Describe the elements of a marketing plan.

3.Analyze a marketing situation using SWOT analyses.

4.Describe how a firm chooses which consumer group(s) to pursue with its marketing efforts.

5.Outline the implementation of the marketing mix as a means to increase customer value.

6.Summarize portfolio analysis and its use to evaluate marketing performance.

7.Describe how firms grow their business.