Discussion Questions Mkt 571

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Week One Discussion Questions How is marketing management both an art and a science? What global marketing challenges and opportunities do businesses face today? Marketing has become recognized as a basic motivating force in most organizations. Marketing management focuses on the process of marketing decisions for organizations. Companies practicing the marketing concept strive to satisfy customers' needs while achieving the organization's objectives at the same time. From a managerial point of view, Marketing is the process of planning and executing the concept, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. Because consumers are constantly seeking quality products and services, companies continue to seek how to meet customer expectations. Businesses today face a number of challenges and opportunities including globalization, the effects of advances in technology, laws, and regulations. A major challenge for marketing-oriented companies as a response to the rapidly changing marketplace is by engaging continuously in market-oriented strategic planning. Also, marketing has to learn to develop and maintain a viable fit among the objectives, resources, skills, and opportunities. Why are the production concept, product concept, and selling concept of limited use for conducting global business operations today? Organizations that have conducted marketing activities have used the following concepts: the production concept, product concept, selling concept, and marketing concept, and holistic marketing concept. In order to know why the production, product, and selling concepts

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