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BUSN (with MindTap Business, 1 Term (6 Months) Printed Access Card) (MindTap Course List)
11th Edition
ISBN: 9781337407120
Author: Marcella Kelly, Chuck Williams
Publisher: Cengage Learning
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Question
Chapter 11, Problem 1LO
Summary Introduction
To discuss: The objectives, the process, and the scope of marketing.
Marketing is the process of planning and executing the conception, promotion, pricing, and distribution of ideas, goods and services to develop exchanges that fulfills individual and organizational objectives.
Expert Solution & Answer
![Check Mark](/static/check-mark.png)
Explanation of Solution
Following are the main objectives of marketing:
- Creation of demand
- Customer satisfaction
- Market share
- Generation of profit
- Creation of goodwill and public image
The scope of marketing are as follows:
- Goods
- Services
- Events
- Experiences
- Persons
- Places
- Properties
- Organizations
- Information
- Idea
The process of marketing is as follows:
- Define the mission statement.
- Conduct a SWOT, 5C’s or PEST analysis.
- Create a marketing strategy
- Plan the marketing mix
- Execute the process
- Measure the results.
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Chapter 11 Solutions
BUSN (with MindTap Business, 1 Term (6 Months) Printed Access Card) (MindTap Course List)
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- Gordon Company was recently formed with a $7,000 investment in the company by shareholders. The company then borrowed $4,000 from a bank, purchased $3,000 of supplies on account, and also purchased $7,000 of equipment by paying $4,000 in cash and signing a note for the balance. Based on these transactions, the company's total assets are:arrow_forwardRadiant Motors has sales of $5,250, total assets of $3,900, and a profit margin of 6 percent. The firm has a total debt ratio of 48 percent. What is the return on equity?helparrow_forwardCompute the Cost of Goods Sold considering the following information from Kelly's Kandles. Sales Selling Expenses $133,200 13,500 General and Administrative Expenses 16,100 Net income before tax Net income 49,700 40,100arrow_forward
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