Saylor URL: http://www.saylor.org/books Saylor.org
an individual receives and consists of the price the consumer paid and the time and effort the person
expended making the purchase.
REVIEW QUESTIONS
- What is the marketing mix?
- How has marketing changed from the four Ps approach to the more current value-based perspective?
- What is the personal value equation?
[1] American Marketing Association, “Definition of
Marketing,”http://www.marketingpower.com/AboutAMA/Pages/DefinitionofMarketing.aspx?sq=definition+of+m
arketing (accessed December 3, 2009).
1.2 Who Does Marketing?
LEARNING OBJECTIVE
- Describe how the various institutions and entities that engage in marketing use marketing to deliver value.
The short answer to the question of who does marketing is “everybody!” But that answer is a bit glib
and not too useful. Let’s take a moment and consider how different types of organizations engage in
marketing.