GB 350 Exam 1 Cascio Questions
Complete With 100% Verified Answers
\.American Marketing Association definition - ANSWERS✔-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
\.Marketing - ANSWERS✔-balances equally important goals through long-term, mutually
rewarding relationships with customers
\.Conditions for exchange - ANSWERS✔-- at least two parties involved
- something of value must be present
- clear communication and delivery terms
- desire to deal with the other party that exists
- each party is free to accept or reject the offer
\.CCPA - ANSWERS✔-fines up tp $750/user for retailers who do comply with consumer requests
to access to personal data
\.An exchange... - ANSWERS✔-may not take place even if all conditions are met
an agreement between two parties is required before an exchange occurs
\.Marketing can occur... - ANSWERS✔-even if an exchange does not take place
\.Marketing management philosophies - ANSWERS✔-basic beliefs, concepts, and attitudes of an
individual or group
, - production
- sales
- market
- societal
\.Production - ANSWERS✔-short-term
internal capabilities of the firm
ex. Japanese car makers focusing on production instead of overall customer experience (Tesla
prioritizing AI)
\.Sales - ANSWERS✔-short-term
aggressive sales techniques and the belief that high sales result in high profits
ex. Vivant receiving customer complaints and loss of license for aggressive sales techniques
\.Market(ing) - ANSWERS✔-long-term
satisfying customer wants and needs while meeting organizational objectives
ex. Chewy e-commerce for a competitive market and sold out to PetCo
\.Societal - ANSWERS✔-long-term
satisfying customer wants and needs while enhancing individual and societal well-being
ex. Caliber Collision illustrates a societal market through veterans seeking stable job placement
\.Product orientation - ANSWERS✔-management assesses its resources and asks questions
regarding goods and services
does not consider if the goods and services produced by the firm meets the needs of the
marketplace
Complete With 100% Verified Answers
\.American Marketing Association definition - ANSWERS✔-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
\.Marketing - ANSWERS✔-balances equally important goals through long-term, mutually
rewarding relationships with customers
\.Conditions for exchange - ANSWERS✔-- at least two parties involved
- something of value must be present
- clear communication and delivery terms
- desire to deal with the other party that exists
- each party is free to accept or reject the offer
\.CCPA - ANSWERS✔-fines up tp $750/user for retailers who do comply with consumer requests
to access to personal data
\.An exchange... - ANSWERS✔-may not take place even if all conditions are met
an agreement between two parties is required before an exchange occurs
\.Marketing can occur... - ANSWERS✔-even if an exchange does not take place
\.Marketing management philosophies - ANSWERS✔-basic beliefs, concepts, and attitudes of an
individual or group
, - production
- sales
- market
- societal
\.Production - ANSWERS✔-short-term
internal capabilities of the firm
ex. Japanese car makers focusing on production instead of overall customer experience (Tesla
prioritizing AI)
\.Sales - ANSWERS✔-short-term
aggressive sales techniques and the belief that high sales result in high profits
ex. Vivant receiving customer complaints and loss of license for aggressive sales techniques
\.Market(ing) - ANSWERS✔-long-term
satisfying customer wants and needs while meeting organizational objectives
ex. Chewy e-commerce for a competitive market and sold out to PetCo
\.Societal - ANSWERS✔-long-term
satisfying customer wants and needs while enhancing individual and societal well-being
ex. Caliber Collision illustrates a societal market through veterans seeking stable job placement
\.Product orientation - ANSWERS✔-management assesses its resources and asks questions
regarding goods and services
does not consider if the goods and services produced by the firm meets the needs of the
marketplace
