The document contains a list of 10 learning questions about marketing concepts for chapter 1. It covers definitions of marketing management, the marketing mix (4Ps), types of consumer needs, new marketing orientations like convergence, and new consumer capabilities in the digital age. Key points addressed include that marketing management involves creating, communicating and delivering superior customer value, and examples of the product, price, place and promotion elements of the marketing mix.

1. TOP 10 Learning Questions for Chapter 1: Defining Marketing for the 21 st Century Ria Abendan April 2011

6. Examples Experiences are marketed by orchestrating several goods and services

9. There are five basic markets in a modern economy Manufacturer Markets Consumer Markets Intermediary Markets Resource Markets Government Markets

10. Consumers sell labor to resource markets Manufacturer Markets Consumer Markets Resource Markets Government Markets resources money

11. Manufacturers buy resources… Manufacturer Markets Consumer Markets Resource Markets Government Markets resources resources money money

12. … turn them to goods & services and sell to intermediaries Manufacturer Markets Consumer Markets Resource Markets Government Markets resources resources goods and services money money money

13. Intermediaries sell finished goods to consumers Manufacturer Markets Consumer Markets Resource Markets Government Markets resources resources goods and services goods and services money money money money

14. The government collects tax revenues to buy goods Manufacturer Markets Consumer Markets Resource Markets Government Markets resources resources goods and services goods and services money money money money taxes taxes, goods taxes, goods taxes, goods

15. And uses these goods and services to provide public service Manufacturer Markets Consumer Markets Resource Markets Government Markets resources resources goods and services goods and services money money money money taxes taxes, goods taxes, goods taxes, goods services services, money services, money services, money

21. Marketers may use different kinds of Marketing Channels Communication Channels radio tv print billboards events Examples:

22. Distribution Channels wholesalers retailers door to door agents Examples: Marketers may use different kinds of Marketing Channels

23. Service Channels Example: banks warehouses Marketers may use different kinds of Marketing Channels

26. There are 5 Types of Consumer Needs Stated Needs Real Needs Unstated Needs Delight Needs Secret Needs “ I want an inexpensive TV.”

27. Real Needs may underlie the Stated Needs Stated Needs Real Needs Unstated Needs Delight Needs Secret Needs “ I want a TV whose maintenance cost, not initial price, is low (or zero).”

28. Unstated needs are expected already by the customer Stated Needs Real Needs Unstated Needs Delight Needs Secret Needs “ I want good service from the manufacturer.”

29. Delight Needs ask more of the expected output Stated Needs Real Needs Unstated Needs Delight Needs Secret Needs “ I want it to come with a home theater system.”

30. Secret Needs may not easily be articulated by the customer Stated Needs Real Needs Unstated Needs Delight Needs Secret Needs “ I want my friends to see me as a smart buyer.”

36. New Consumer Capabilities Substantial increase in buying power Greater variety of available goods & services Great amount of information Greater ease in interacting and placing & receiving orders Ability to compare notes on products & services Amplified voice to influence public opinion

39. There are 4 Types of Company Orientations Production Marketing Product Selling Company Orientations

52. TOP 10 Learning Questions for Chapter 1: Defining Marketing for the 21 st Century Ria Abendan April 2011