Problem 1. Most people think of marketing as only promotion; they only see the tip of the marketing iceberg. However, marketing is much more. Recently AMA redefined what marketing is. Their new definition is as follows:
"Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."
Do you agree or disagree with this definition? Is marketing more than only promotion? Why? Do you think marketing creates value for society? How?
Problem 2. Marketing is the core of all business activity. It determines what products customers want and need, how to deliver those products to them, how to price those products, and how to promote those products. It is often the only interaction the customer has with the organization.
Are marketing ethics critical to successful marketing? How? Do you think marketing ethics is central to building brand loyalty? Why? How would you develop an ethical approach to marketing?