FNU Concept of Marketing and List the Five Steps in The Marketing Process

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Read Chapters 1&2 of your textbook, and answer the following questions, your answers must be short essays not just 1-2 sentences. Unless a specific question instructs you otherwise, please use our textbook or the Powerpoints provided here on Blackboard for your answers.

1. Define in your OWN WORDS the concept of Marketing and list the five steps in the Marketing process.

2. Explain the concepts of Customer Lifetime Value and Customer Equity.

3. What are some of the effects of the Digital age on the way companies reach their targeted customers?

4. Explain what ROI (Return on Marketing Investment) is.

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