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Exam (elaborations)

MKTG 311 TEST 1 QUESTIONS WITH CORRECT ANSWERS

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MKTG 311 TEST 1 QUESTIONS WITH CORRECT ANSWERS

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Monitoring and Auditing (MSF)


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Step 5




Marketing Orientation Concept


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, actually focuses on marketing strategy
learn what the target demographic wants and work to satisfy those wants
better than the competition.
- design a product with the customer in mind rather than pushing the
products they feel like making.
ex) Coca Cola or Pepsi - promise their customers what they want - a great
taste experience




Suppliers (Microenvironment)


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Provide the resources to produce goods and services • Treat as partners to
provide customer value




Political and Social Environment


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includes laws, government agencies, and pressure groups that influence or
limit various organizations and individuals in a given society




Corporate (Company Wide Strategic Planning)


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Mission -> Goals & Objectives -> SBU

, Porter's 5 Forces


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-Rivalry among competitors;
-Threat of new entrants;
-Threat of substitute products;
-Bargaining power of buyers;
-Bargaining power of suppliers;




Publics (Microenvironment)


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any group that has an actual or potential interest in or impact on an
organization's ability to achieve its objectives




Consumer Decision Making Process


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need recognition, information search, evaluation of
alternatives, purchase, post purchase behavior




Marketing Management Orientation

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