MARK 3000 Grantham Final Exam | Questions
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Terms in this set (460)
Marketing An organizational function and set of process for
creating, capturing, communicating, and delivering
value to customers, and for managing customer
relationships in ways that benefit the organization
and its stakeholders
Marketing Plan A written document composed of an analysis of
the current marketing situation, opportunities, and
threats for the firm, marketing objectives and
strategy specified in terms of four P's, action
programs, and projected or pro forma income (and
other financial) statements
Exchange The trade of things of value between the buyer and
the seller so that each is better off as a result
Marketing Mix Product, price, place, and promotion-the
controllable set of activities that a firm uses to
respond to the wants of its target markets
Goods Items that can be physically touched
, Services Any intangible offering that involves a deed,
performance, or effect that cannot be physically
possessed; intangible customer benefits that are
produced by people or machines and cannot be
separated from the producer
Ideas Intellectual concepts-thoughts, opinions, and
philosophies
B2C (Business-to-consumers) The process in which businesses sell to consumers
B2B (Business-to-business) The process of selling merchandise, or services
from one business to another
C2C (consumer-to-consumer) The process in which consumers sell to other
consumers
Production Oriented Era Turn of the 20th century when most firms were
production oriented and believed a good product
would sell itself
Sales Oriented Era Between 1920-1950, With overproduction they
depended on heavy doses of personal selling and
advertising
Market Oriented Era After WWII(1945), buyers market
Value-Based Era Most successful firms are this today. Discover and
give the customer what they want.
Value Reflects the relationship of benefits to costs, or
what the consumer gets for what he or she gives
with 100% Correct Answers | Verified | Latest
Update 2026
Save
Terms in this set (460)
Marketing An organizational function and set of process for
creating, capturing, communicating, and delivering
value to customers, and for managing customer
relationships in ways that benefit the organization
and its stakeholders
Marketing Plan A written document composed of an analysis of
the current marketing situation, opportunities, and
threats for the firm, marketing objectives and
strategy specified in terms of four P's, action
programs, and projected or pro forma income (and
other financial) statements
Exchange The trade of things of value between the buyer and
the seller so that each is better off as a result
Marketing Mix Product, price, place, and promotion-the
controllable set of activities that a firm uses to
respond to the wants of its target markets
Goods Items that can be physically touched
, Services Any intangible offering that involves a deed,
performance, or effect that cannot be physically
possessed; intangible customer benefits that are
produced by people or machines and cannot be
separated from the producer
Ideas Intellectual concepts-thoughts, opinions, and
philosophies
B2C (Business-to-consumers) The process in which businesses sell to consumers
B2B (Business-to-business) The process of selling merchandise, or services
from one business to another
C2C (consumer-to-consumer) The process in which consumers sell to other
consumers
Production Oriented Era Turn of the 20th century when most firms were
production oriented and believed a good product
would sell itself
Sales Oriented Era Between 1920-1950, With overproduction they
depended on heavy doses of personal selling and
advertising
Market Oriented Era After WWII(1945), buyers market
Value-Based Era Most successful firms are this today. Discover and
give the customer what they want.
Value Reflects the relationship of benefits to costs, or
what the consumer gets for what he or she gives
