Marketing Week 1 Assignment Essays

638 Words Apr 13th, 2012 3 Pages
Strayer University
Marketing 100003016*201004 Principles of Marketing
Professor Jane Storm
Week 1 Assignment: Assurance of Learning Review

1) The four types of utility are: Form, Time, Place, Ownership a) Form would be a dinner at the Red Lobster b) Time would be getting a haircut at the base barber shop c) Place would be an ATM machine inside the local grocery store d) Ownership would be shopping at the outlet mall

2) The marketplace condition after World War II that gave rise to the need for consumer orientation by business was the shift from a seller's market to a buyer's market. When WWII ended, factories stopped producing war related materials and started producing consumer products again. Because it was now a buyer's
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6) Firms using mobile marketing to reach out to its customers may benefit from this type of marketing because it provides timely information to its customers as they go about their days activities. This would be especially useful for short term sales on products. If I was to get an e-mail notification of a two day sale at, I am able to use the link to view sale items right away.

7) The significance of the shift from transaction-based marketing to relationship marketing is that firms realize that just attracting customers to buy their products is not quite as important as establishing and maintaining relationships with them so that they will turn into loyal repeat customers. Relationship building begins early in marketing. It starts with what customers want and need, and then developing high-quality products to meet those needs.

8) The two exchange functions of marketing are buying and selling. They are important to the overall marketing program for the following reasons. Buying is important because marketers must figure out how and why consumers buy certain goods and services. Retailers and other intermediaries must seek out products that will appeal to their customers. Selling is important because it involves advertising, personal selling, and sales promotion in an attempt to match the firm's goods and services to customer needs.

9) The physical distribution function creates place utility through transporting and storing. Transporting

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