Principles of Marketing (16th Edition)
Principles of Marketing (16th Edition)
16th Edition
ISBN: 9780133795028
Author: Philip T. Kotler, Gary Armstrong
Publisher: PEARSON
bartleby

Concept explainers

Question
Book Icon
Chapter 1, Problem 1.1DQ
Summary Introduction

To discuss: The term marketing and the term marketing myopia and the ways to avoid it.

Marketing refers to the set of institution, activity, and process of communication, creating, exchanging offerings, and delivering which has the values of clients, customers, society and partners at larger.

Expert Solution & Answer
Check Mark

Explanation of Solution

The term marketing:

The important outcome in marketing is exchange. It has five conditions to be satisfied.

  • The exchange must have at least of two parties
  • They must be communicable and capable of delivery
  • They both should have something of value to exchanged
  • The parties are free to accept and reject the proposal

The term marketing myopia refers to the mistake or error a company that it pays the attention more to the particular products it offers than giving to the experiences or benefits the products produces.

This can be avoided by way of focusing the primary customers’ needs which is met by the product.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Knowledge Booster
Background pattern image
Marketing
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Text book image
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Text book image
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Text book image
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Text book image
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Text book image
MKTG 12:STUDENT ED.-TEXT
Marketing
ISBN:9781337407595
Author:Lamb
Publisher:Cengage
Text book image
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning