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Peregrine Global Foundation of Marketing Exam 2024 WITH 100% CORRECT ANSWERS
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Peregrine Global Foundation of Marketing Exam 2024 WITH 100% CORRECT ANSWERS
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Foundation of Marketing Peregrine Global.pdf file:///C:/Users/HP/Desktop/New%20folder/Foundation%20of%20MaFoundation of Marketing Peregrine Global
1. Marketing: Marketing is an exchange between a firm and its customers. The
company offers benefits to its customers and seeks profits.
2. Why is Marketing Important?: Marketing is the business; it should permeate the entire
organization. Marketing and customer satisfaction is everyone's responsibilityto maintain those
relationships
3. American Marketing Association: define marketing as "the activity, set of in- stitutions,
and processes for creating, communicating, delivering, and exchangingofferings that have
value for customers, clients, partners, and society at large.
4. Classical marketing: is a philosophy which guides the attitude of everyone in afirm to
stimulate and satisfy the needs and wants of every customer.
5. Competitive marketing: a strategy involves product strategy, pricing strategy, integrated
marketing communications, channels, and logistics strategy. It needs tooffer value to the target
market
6. 5 C's: Marketing Framework Part 1
Examining the External Environment
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Customers: Who are they? What are they like? Do we want to draw differentcustomers?
Company: What are our strengths and weaknesses? What customer benefits canwe provide?
Context: What is happening in our industry that might reshape our future business?
Collaborators: Can we address our customers' needs while strengthening our busi-ness to
business (B2B) partnerships?
Competitors: Who are the competitors we must consider? What are their likelyactions and
reactions?
This helps marketers assess any business problem or opportunity in terms of a gen-eral analysis
of the entire business situation. The customer and company are centralplayers in the marketing
exchange. The context includes the macro-environment: theeconomy, legal constraints, cultural
differences, and global segments.
7. STP: Marketing Framework Part 2
Strategic Marketing Planning
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Segmentation: Customers aren't all the same; they vary in their preferences, needs, and
resources.
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Targeting: Attracting some of those customers makes better sense than going afterothers.
Positioning: Communicate your benefits clearly to your intended customers.
Refers to the fact that businesses or organizations are unlikely to be all things to allpeople, so it
is best to identify groups or segments of customers who share similarneeds and wants. When
the different segments' preferences are understood, then the organization can identify the
targeted segments.
8. 4 P's: Marketing Framework Part 3
Marketing Tactics
Product: Will customers want what your company is prepared to produce?Price: Will
customers pay what you would like to charge?
Place: Where and how will customers purchase your market offering?
Promotion: What can you tell your customers, or do for them, to entice them topurchase?
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