Chapter 1 Why Is Marketing Management Important?

Learning Objectives:

1. Understand the meaning of the term marketing.
2. Explain the importance of marketing.
3. Introduce and provide an overview of the marketing management framework.

Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding. Also, provide a graduate-level response to each of the following questions:

1.Before reading this chapter or beginning class, what did you expect marketing to be? Ask a family member, classmate, or coworker what they think marketing is. How can persuade them that marketing enhances a mutually beneficial exchange between a customer and a company.

2.Think about a recent time when you bought something or tried to do so and you were treated poorly as a customer. What was the essential problem? If you ran the company, what would you do to ensure happier and more loyal customers?