1. How, specifically, does marketing create place, time, and possession utility?
   
   
2. How is a marketing-oriented firm different from a production-oriented firm or a sales-oriented firm?
   
   
3. What are the major requirements for a group of individuals and organizations to be a market? How does a consumer market differ from a business-to-business market?
   
   
4. What are the major components of a marketing strategy?
   
   
5. What is the purpose of market segmentation? What is the relationship between market segmentation and the selection of target markets?
   
   
6. What are the four elements of the marketing mix? In what sense are they "controllable"?
   
   The four elements of the marketing mix are product, price, distribution, and promotion. They are controllable in the sense that a firm can vary each element to suit its organizational goals, marketing goals, and target markets.
   
   
7. Describe the forces in the marketing environment that affect an organization's marketing decisions.
   
   
8. What is a marketing plan, and what are its major components?
   
   
9. What major issues should be specified before conducting a sales forecast?
   
   
10. What is the difference between a marketing information system and a marketing research project? How might the two be related?
    
    
11. What new information technologies are changing the way marketers keep track of business trends and customers?
    
    
12. Why do marketers need to understand buying behavior?
    
    
13. How are personal income, disposable income, and discretionary income related? Which is the best indicator of consumer purchasing power?
    
    
14. List five reasons why consumers make purchases. What need is satisfied in each case?