Revision Questions Marketing Basics

  1. Give a definition of marketing.
  2. What are the marketing considerations of the tactical marketing tools – the 4 Ps?
  3. Why do marketers consider additional 3 Ps when marketing services? Explain.
  4. The elements of the marketing mix are interdependent. What does this mean?
  5. Distinguish between USP and ESP.
  6. What is the basic difference between national, international and global marketing?
  7. Define the following terms: needs, wants, demands, products and services, stakeholders, relationship marketing, markets, competitive advantage, strategic business unit.
  8. Name and explain the characteristics of services. What are the marketing implications?
  9. Strategic planning takes place at four levels: corporate, division, business unit, and product. Describe the planning process.
  10. Differentiate between a company’s mission and vision. What is the content of a mission and vision statements?
  11. What are the major categories of business objectives?
  12. Companies may combine the marketing tools in a variety of ways guided by a marketing concept. Describe the different options marketers can choose from.