MARK 3000 GRANTHAM UGA CORRECT TEST PAPER
QUESTIONS AND ANSWERS SURE A+
✔✔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
✔✔Value Cocreation - ✔✔Customers act as collaborators with a manufacturer or
retailer to create the product or service
✔✔Relation 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 (CRM) - ✔✔A business philosophy and set of
strategies, programs, and systems that focus on identifying and building loyalty among
the firm's most valued customers
✔✔Supply Chain - ✔✔The group of firms that make and deliver a given set of goods
and services
✔✔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 the
institutions and marketing activities in the marketing process
✔✔Entrepreneurs - ✔✔A person who organizes, operates, and assumes the risk of a
new business venture
✔✔Business Ethics - ✔✔Refers to a branch of ethical study that examines ethical rules
and principles within a commercial context, the various moral or ethical problems that
, might arise in a business setting, and any special duties or obligations that apply to
persons engaged in commerce
✔✔Marketing Ethics - ✔✔Refers to those ethical problems that are specific to the
domain of marketing
✔✔Ethical Climate - ✔✔The set of values within a marketing firm, or in the marketing
division of any firm, that guide decision making and behavior.
✔✔Corporate Social Responsibility - ✔✔Refers to the voluntary actions taken by a
company to address the ethical, social, and environmental impacts of its business
operations and the concerns of its stakeholders
✔✔Identify Issues ⇒Gather info & identify Stakeholders ⇒Brainstorm & evaluate
alternatives ⇒Choose a course of action - ✔✔Ethical Decision Making Framework
✔✔Locational Privacy - ✔✔A person's ability to move normally in public spaces with the
expectation that his or her location will not be recorded for subsequent use
✔✔Macro-Environmental Factors - ✔✔Aspects of the external environment that affect a
company's business, such as the culture, demographics, social issues, technological
advances, economic situation, and political/regulatory environment
✔✔Culture - ✔✔The set of values, guiding beliefs, understandings, and ways of doing
things shared by members of society; exists on two levels: visible artifacts (i.e. behavior,
dress, symbols, physical settings, ceremonies) and underlying values (thought
processes, beliefs, and assumptions)
✔✔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
✔✔Regional Culture - ✔✔the influence of the area within a country in which people live
✔✔Demographic - ✔✔Information about the characteristics of human populations and
segments, especially those used to identify consumer markets such as by age, gender,
income, and education
✔✔Generational Cohort - ✔✔A group of people of the same generation—typically have
similar purchase behaviors because they have shared experiences and are in the same
stage of life
QUESTIONS AND ANSWERS SURE A+
✔✔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
✔✔Value Cocreation - ✔✔Customers act as collaborators with a manufacturer or
retailer to create the product or service
✔✔Relation 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 (CRM) - ✔✔A business philosophy and set of
strategies, programs, and systems that focus on identifying and building loyalty among
the firm's most valued customers
✔✔Supply Chain - ✔✔The group of firms that make and deliver a given set of goods
and services
✔✔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 the
institutions and marketing activities in the marketing process
✔✔Entrepreneurs - ✔✔A person who organizes, operates, and assumes the risk of a
new business venture
✔✔Business Ethics - ✔✔Refers to a branch of ethical study that examines ethical rules
and principles within a commercial context, the various moral or ethical problems that
, might arise in a business setting, and any special duties or obligations that apply to
persons engaged in commerce
✔✔Marketing Ethics - ✔✔Refers to those ethical problems that are specific to the
domain of marketing
✔✔Ethical Climate - ✔✔The set of values within a marketing firm, or in the marketing
division of any firm, that guide decision making and behavior.
✔✔Corporate Social Responsibility - ✔✔Refers to the voluntary actions taken by a
company to address the ethical, social, and environmental impacts of its business
operations and the concerns of its stakeholders
✔✔Identify Issues ⇒Gather info & identify Stakeholders ⇒Brainstorm & evaluate
alternatives ⇒Choose a course of action - ✔✔Ethical Decision Making Framework
✔✔Locational Privacy - ✔✔A person's ability to move normally in public spaces with the
expectation that his or her location will not be recorded for subsequent use
✔✔Macro-Environmental Factors - ✔✔Aspects of the external environment that affect a
company's business, such as the culture, demographics, social issues, technological
advances, economic situation, and political/regulatory environment
✔✔Culture - ✔✔The set of values, guiding beliefs, understandings, and ways of doing
things shared by members of society; exists on two levels: visible artifacts (i.e. behavior,
dress, symbols, physical settings, ceremonies) and underlying values (thought
processes, beliefs, and assumptions)
✔✔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
✔✔Regional Culture - ✔✔the influence of the area within a country in which people live
✔✔Demographic - ✔✔Information about the characteristics of human populations and
segments, especially those used to identify consumer markets such as by age, gender,
income, and education
✔✔Generational Cohort - ✔✔A group of people of the same generation—typically have
similar purchase behaviors because they have shared experiences and are in the same
stage of life
