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Marketing Tutorial 1

Marketing involves creating value for and building relationships with customers to earn their business. Companies should avoid "marketing myopia" by diversifying their product offerings to meet multiple customer needs rather than focusing on a single product. The four elements of the marketing mix - product, place, price, and promotion - are all equally important when developing a marketing strategy. Customer satisfaction is determined by how well a product or service meets their expectations, which are shaped by quality, value and other factors. There are various marketing management orientations including production, product, selling, marketing, and societal concepts.

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256 views1 page

Marketing Tutorial 1

Marketing involves creating value for and building relationships with customers to earn their business. Companies should avoid "marketing myopia" by diversifying their product offerings to meet multiple customer needs rather than focusing on a single product. The four elements of the marketing mix - product, place, price, and promotion - are all equally important when developing a marketing strategy. Customer satisfaction is determined by how well a product or service meets their expectations, which are shaped by quality, value and other factors. There are various marketing management orientations including production, product, selling, marketing, and societal concepts.

Uploaded by

1 Koh
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Tutorial 1: An overview of contemporary marketing

Coursework Briefing

SECTION A: Discussion Questions

1) What is marketing? How did you define the term before you read this
chapter? *(2016 September Examination & 2017 September Examination)

Marketing is the process by which companies create value for customers and
build strong customer relationships in order to capture value from customers
in return.

2) What is marketing myopia and how can it be avoided?


Marketing myopia which refers to the mistake of paying more attention to
the specific products. Diversify your products or services. Don’t just meet
one need– find ways to address related customer desires, and your offering
will become more complete.

3) What are the four variables of the marketing mix? Are the four variables
equal important?
Product，place，price and promotion. Yes，the four variables equal
important.

4) Relate customer satisfaction to customer expectation. *(2015


August/September Examination)

Customer satisfaction gives an understanding on how much the product or


service meets the expectations of the customer while expectation is
influenced by product or service quality and other factors

5) Examine the types of marketing management orientation. *(2018 January


Examination)

Production concept, product concept, selling concept, marketing concept and


societal marketing concept.

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