Chapter 1 - Overview of Marketing Marketing 5th
188.8.131.52.184.108.40.206 Answers To End Of Chapter Learning Aids
220.127.116.11.18.104.22.168 Marketing Applications
1 Do you know the difference between needs and wants? When companies that sell
frozen desserts develop their marketing strategy, do they concentrate on satisfying
their customers’ needs or wants? What about a utility company, such as the local
power company? A humanitarian agency, such as Doctors without Borders?
Needs are essential items that individuals cannot live without. These include necessities
like shelter, health care, basic food and basic transportation. Wants are products that
2 People can apply marketing principles to finding a job. If the person looking for a job
is the product, describe the other three Ps.
Students should define the remaining Ps in the marketing mix and better define the
product P. In addition, answers should consider how a person seeking employment can
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