1.5 Discussion Questions and Activities

Compare and contrast a four Ps approach to marketing versus the value approach (creating, communicating, delivering, and exchanging value). What would you expect to be the same and what would you expect to be different between two companies that apply one versus the other approach?

During the pandemic, some companies managed to survive while their competitors did not. Apply concepts from this chapter to explain what you think the survivors did differently.

Assume you are about to graduate. How would you apply marketing principles to your job search? In what ways would you be able to create, communicate, deliver, and exchange value as a potential employee, and what would that value be, exactly? How would you prove that you can deliver that value?

When should government agencies use marketing? Why should they?

How do the activities of marketing for value fulfill the marketing concept for the market-oriented organization?

This chapter introduces the personal value equation. How would the PVE apply to someone buying components to be used in the manufacturing of cars for Tesla? How would the PVE apply to Chris Pantoya’s efforts to market Fan Controlled Football? 

This chapter addresses several reasons why marketing is an important area of study. Should marketing be required for all college students, no matter their major? Why or why not?

Of the four marketing functions, where does it look like most of the jobs are? What are the specific positions? How are the other marketing functions conducted through those job positions, even though in a smaller way?

What is the difference between a need and a want? How do marketers create wants? Provide several examples.

The marketing concept emphasizes satisfying customer needs and wants. How does marketing satisfy your needs as a college student? Are certain aspects of your life influenced more heavily by marketing than others? Provide examples.

The value of a product offering is determined by the customer and varies accordingly. How would you compare the value of a Coke to a Pepsi? 

One of your friends is contemplating opening a vintage clothing shop near your college campus. She seeks your advice about size of the prospective customer base and how to market the business according to the concepts presented in the chapter. What strategies can you share with your friend to assist in launching the business?

You are considering working for the American Heart Association upon graduation, but your roommate wants to work for the Texas Rangers Major League Baseball team. Explain the marketing goals, strategies, and markets for the two organizations.

Compare and contrast the two personal value equations for shopping at Walmart.com (their online store) to shopping in a physical Walmart store.

Marketing can benefit organizations, customers, and society. Pick one of the organizations whose mission statement is described in the chapter and explain how it benefits the community in which it operates, as well as society at large. You may need to look up their website to see what they do and how they do it.