1. CHAPTER 2 DISCUSSION QUESTIONS
1) What are the 3 components of the marketing management process?
2) A fairly homogeneous group of customers to whom a company wishes to
appeal is known as what?
3) The controllable variables the company puts together to satisfy a target market
are known as what?
4) What is the difference between target marketing & mass marketing?
5) What are the 4 P's in the marketing mix?
6) Is the customer part of the marketing mix?
7) What is a written statement of a marketing strategy & the time-related details
for carrying out the strategy?
8) What blends all of the firm's marketing plans into one big plan?
9) Define "Customer equity."
10) What is the difference between the a firm's revenues (total dollar sales) & the
total costs it runs up to make those sales?
11) What is a useful aid for identifying relevant screening criteria & for zeroing in
on a feasible strategy?
12) Explain each of the following opportunities available to marketers:
A) market penetration
B) market development
C) product development
D) diversification

2. MARKETING MANAGEMENT PROCESS
1) PLANNING
-PLANNING MARKETING ACTIVITIES.
-MANAGERS SET GUIDELINES FOR THE IMPLEMENTING JOB
& SPECIFY EXPECTED RESULTS.
2) IMPLEMENTATION
-DIRECTING THE IMPLEMENTATION OF THE PLANS.
-THE PLANS ARE CARRIED OUT & ASSESSSED.
3) CONTROLLING
-CONTROLLING THE PLANS.
-MANAGERS DETERMINE IF EVERYTHING HAS WORKED OUT
AS PLANNED.

3. TARGET MARKET
“A FAILRY HOMOGENEOUS (SIMILAR) GROUP OF
CUSTOMERS TO WHOM A COMPANY WISHES TO APPEAL.”

4. MARKETING STRATEGY
“SPECIFIES A TARGET MARKET & A RELATED MARKETING MIX.”
-IT IS A BIG PICTURE OF WHAT A FIRM WILL DO IN SOME MARKET.
-IT CONTAINS 2 INTERRELATED PARTS:
1) TARGET MARKET
-A FAIRLY HOMOGENEOUS GROUP OF CUSTOMERS TO WHOM A
COMPANY WISHES TO APPEAL.
2) MARKETING MIX
-THE CONTROLLABLE VARIABLES THE COMPANY PUTS
TOGETHER TO SATISFY THIS TARGET GROUP.

5. WHAT ARE THE DEMOGRAPHIC & PSYCHOGRAPHIC
CHARACTERISTICS OF THE FOLLOWING
ORGANIZATION’S TARGET CUSTOMERS?
1) NFL
2) ULTIMATE FIGHTING CHAMPIONSHIP
3) VICTORIA’S SECRET
4) UNDER ARMOUR
5) THE BIG BANG THEORY
6) THE REAL HOUSEWIVES SERIES

12. TARGET MARKETING
“IDENTIFYING A TARGET MARKET AFTER DETAILED
RESEARCH, & DEVELOPING SPECIFIC MARKETING CAMPAIGNS
FOCUSED AT IT.”
-SEES CUSTOMERS AS DIFFERENT.
MASS MARKETING
“AN ATTEMPT TO APPEAL TO AN ENTIRE MARKET WITH ONE
BASIC MARKETING STRATEGY UTILIZING MASS DISTRIBUTION &
MASS MEDIA.”
-SEES CUSTOMERS AS SIMILAR.