MARK 3000 GRANTHAM UGA CORRECT FINAL
EXAM QUESTIONS AND ANSWERS SURE A+
✔✔Relational Orientation - ✔✔A method of building a relationship with customers
based on the philosophy that buyers and sellers should develop a long term relationship
✔✔Customer Relationship Management - ✔✔A business philosophy and set of
strategies, programs, and systems that focus on identifying and building loyalty amount
the firm's most valued customers.
✔✔Marketing Channel - ✔✔The set of institutions that transfer the ownership of and
move goods from the point of production to the point of consumption; consists of all
institutions and marketing activities in the marketing process.
✔✔Ethics - ✔✔Moral Principles and values that govern actions
✔✔Laws - ✔✔Society's values which are enforceable in court
✔✔Marketing Ethics - ✔✔Refers to those ethical problems that are specific to the
domain of marketing
✔✔Corporate Social Responsibility - ✔✔Refers to the voluntary actions taken by
company to address the ethical, social, and environmental impacts of its business
operations and the concerns of its stakeholders.
✔✔1: Identify Issues
2: Gather Info and Identify Stakeholders
3: Brainstorm
4: Choose a course of action - ✔✔Framework for Ethical Decision Making
✔✔General Business Norms - ✔✔Consumer has right to safety, to be informed, to
choose, and to be hear.
, ✔✔Moral Idealism - ✔✔If any bad occurs, then action is unethical
✔✔Utilitarianism - ✔✔Balance good versus bad
Make sure that the good outweighs the bad, then they are good.
✔✔Profit Responsibility - ✔✔Companies are responsible only to stockholders and
investors
Companies have just one duty: Maximize profit with the law
✔✔Stakeholder Responsibility - ✔✔Companies are responsible to owners and to
customers, employees, and suppliers.
✔✔Marketing Environment - ✔✔Uncontrollable elements outside of any organization
that may affect its performance.
✔✔Macro - Environmental factors - ✔✔Aspects of the external environment that affect a
company's business, such as the culture, demographics, social issues, technological
situation, and political regulatory environment.
✔✔Culture - ✔✔The set of values, guiding beliefs, understandings, and ways of doing
things shared by members of society.
✔✔Country Culture - ✔✔Entails easy to spot visible nuances that are particular to a
country, such as dress, symbols, ceremonies, language, colors, and food preferences
and more subtle aspects which are trickier to identify.
✔✔Demographics - ✔✔Information about the characteristics of human populations and
segments especially those used to identify consumer markets such as by age, gender,
income, and education.
✔✔Thrift
Health and wellness concerns
Greener Consumers
Privacy Concerns
Time poor society - ✔✔Examples of Social Trends?
✔✔Generation Cohort - ✔✔A group of people of the same generation - typically have
similar purchase behaviors because they have shared experiences and are in some
stages of life
✔✔Generation Z - ✔✔Digital Natives
Group of people who were born into a world that already was full of electronic gadgets
and digital technologies such as the internet and social networks
EXAM QUESTIONS AND ANSWERS SURE A+
✔✔Relational Orientation - ✔✔A method of building a relationship with customers
based on the philosophy that buyers and sellers should develop a long term relationship
✔✔Customer Relationship Management - ✔✔A business philosophy and set of
strategies, programs, and systems that focus on identifying and building loyalty amount
the firm's most valued customers.
✔✔Marketing Channel - ✔✔The set of institutions that transfer the ownership of and
move goods from the point of production to the point of consumption; consists of all
institutions and marketing activities in the marketing process.
✔✔Ethics - ✔✔Moral Principles and values that govern actions
✔✔Laws - ✔✔Society's values which are enforceable in court
✔✔Marketing Ethics - ✔✔Refers to those ethical problems that are specific to the
domain of marketing
✔✔Corporate Social Responsibility - ✔✔Refers to the voluntary actions taken by
company to address the ethical, social, and environmental impacts of its business
operations and the concerns of its stakeholders.
✔✔1: Identify Issues
2: Gather Info and Identify Stakeholders
3: Brainstorm
4: Choose a course of action - ✔✔Framework for Ethical Decision Making
✔✔General Business Norms - ✔✔Consumer has right to safety, to be informed, to
choose, and to be hear.
, ✔✔Moral Idealism - ✔✔If any bad occurs, then action is unethical
✔✔Utilitarianism - ✔✔Balance good versus bad
Make sure that the good outweighs the bad, then they are good.
✔✔Profit Responsibility - ✔✔Companies are responsible only to stockholders and
investors
Companies have just one duty: Maximize profit with the law
✔✔Stakeholder Responsibility - ✔✔Companies are responsible to owners and to
customers, employees, and suppliers.
✔✔Marketing Environment - ✔✔Uncontrollable elements outside of any organization
that may affect its performance.
✔✔Macro - Environmental factors - ✔✔Aspects of the external environment that affect a
company's business, such as the culture, demographics, social issues, technological
situation, and political regulatory environment.
✔✔Culture - ✔✔The set of values, guiding beliefs, understandings, and ways of doing
things shared by members of society.
✔✔Country Culture - ✔✔Entails easy to spot visible nuances that are particular to a
country, such as dress, symbols, ceremonies, language, colors, and food preferences
and more subtle aspects which are trickier to identify.
✔✔Demographics - ✔✔Information about the characteristics of human populations and
segments especially those used to identify consumer markets such as by age, gender,
income, and education.
✔✔Thrift
Health and wellness concerns
Greener Consumers
Privacy Concerns
Time poor society - ✔✔Examples of Social Trends?
✔✔Generation Cohort - ✔✔A group of people of the same generation - typically have
similar purchase behaviors because they have shared experiences and are in some
stages of life
✔✔Generation Z - ✔✔Digital Natives
Group of people who were born into a world that already was full of electronic gadgets
and digital technologies such as the internet and social networks
