Question 2 (2 points) The book puts heavy emphasis on marketers "creating value". In my definition of marketing, I suggest this isn't enough and that marketers need to focus on creating profits". Which of the following describes a situation where marketing delivered a value to customers but did not generate profits for the company. A company invests huge marketing budget in a campaign offering a free prize to anyone who calls for information. Huge numbers "f people call. The company is able to use direct marketing techniques to reach out to those who called and eventually generates enough business to become profitable. A startup company creates a product it thinks is exceptional. But market research shows that it doesn't deliver enough value to customers for them to purchase the product. The company goes out of business. company creates a product which consumers value, it sells well, and generates profit for the company. A startup company invests venture capital paying $X per sale to lower the price of its product. It sells to a very large group of people yet the company never generates a profit and those who purchase the product would never pay a high enough price where the company can be profitable. Question 3 (2 points) Each of the following describes an action. Indicate the "P" of the 4Ps which is the best fit for the marketing function where that action belongs. Determining a strategy around revenue received for your product which best maximizes the profits you will generate. Choosing distributors you want to carry your product so that potential customers will be able to purchase the product easily. 1 Product 2. Price 3. Place Listening to customers then working with design and engineering so that what they create will be more valuable to potential customers. 4. Promotion Plan and execute a social media campaign to increase awareness of back to school discounts on your products