advertising and salesmanship (Marketing)

1.)    Marketing is not just advertising and salesmanship-it is the interaction of key institutions in a free economic system. Marketing is crucial for free markets because the survival of companies and the economic system that sustains them depends on it. Identify key marketing institutions in a free economic system. Discuss why each of them is important for marketing. Can marketing survive in the absence of even one of these institutions? Why or why
not?

 

2) The following is Burger King's mission statement:

We will prepare and sell quick service food to fulfill our guest's needs more accurately, quickly, courteously, and in a cleaner environment than our competitors. We will conduct all our business affairs ethically, and with the best employees in the mid-south. We will continue to grow profitably and responsibly, and provide career advancement opportunities for every willing member of our organization.

Using the mission statement as the backdrop and a four-by-four matrix, identify the current and prospective as well as direct and indirect competitors of Burger King. Analyze the current and prospective competitors.

What measures or strategies would you suggest for Burger King to help it stay ahead of its competitors? Support your choices with logical arguments and include all relevant sources from the text, South University Online Library, and the Internet.