Marketing 3000 Mizzou Test 1

What is marketing?
The study of exchange that satisfies the individual and organized objectives.
What’s the philosophy of business marketing?
The philosophy of business exchange has come from a “self centered” firm focus to an empathetic, customer based one.
What is the scope of marketing?
Communication with two or more parties.
What is the marketer’s first task?
Discovering the consumer’s needs before anything else.
What is the marketer’s second task?
Their second task is satisfying consumer needs
What are the four P’s (the marketing mix)?
Product, Price, Promotion, Place
Functional Benefits