MKT 3401 MODULE 1 UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Question:
1. module essays
Answer:
module essays
Question:
2. what is the concept of marketing? (3)
Answer:
-is being able to satisfy the customers' needs and wants
-and give them something better than the competition
-and achieving long term goals for the organization by satisfying customer wants and needs legally and
responsibly
Question:
3. a key goal of marketing is offering an exchange. what are the several conditions for an exchange to
occur? (5)
Note: exchange will not necissarly take place if these conditions exist, but they must exist for exchange to
be possible
Answer:
1. there needs to be at least two parties
2. each party has something of value that the other party might want.
3. each party needs to be capable of communicating what they want and delivering the product or service.
4. The persuasive nature of marketing comes into play, where each party is able to accept or reject the
exchange offer.
5. to show the importance of relationships, each party desires to deal with the other person.
Question:
4. why must companies be able to understand marketing?
Answer:
Question:
5. When analyzing how a company might operate, it is important to consider what type of ____________
It helps the company to understand more clearly their focus and how to accomplish its goals.
Answer:
marketing management philosophy
Question:
6. what are the 4 marketing management philosophies?
Answer:
production orientation sales orientation marketing orientation societal orientation
,Question:
7. which marketing management philosophy is this? This occurs when a company looks inward at what it
does best and then produces that product. The company is very good at what it is able to produce, the
quality of the production, and the efficiency of the production. The company is usually focused on large
volume and efficiency of production.
Answer:
production orientation what a company does best without considering whether there is a market
Question:
8. this is an example of? fast-food restaurants focus on making large quantities every day at a low cost. If
involved in this type of restaurant business, the company is more concerned with quantity and how it can
save money while selling high volumes of products. It strives to have a good product but not a premium
product.
Answer:
production orientation there is, however, a possible mistake often made in the production orientation. In an
effort to maximize production and efficiency, the company may not have considered the market for its
product(s).
Question:
9. which marketing management philosophy is this? This occurs when a company is not concerned about
how the product is created; rather, its focus lies in assembling a skilled and highly trained sales force
whose job it is to move these products.
Answer:
sales orientation whatever an organization puts together a very skilled sales force and their job is simply to
move products-- they sell.
Question:
10. In a sales orientation, Once the sales force is established, the company _______________________ the
sales force.
Answer:
seeks new products and services to supply
Question:
11. Personal selling is a critical and valuable part of many businesses that adopt what philosophy?
Answer:
sales orientation
Question:
12. Why are sales representative's personal brand critical to the brand of sales orientation companies?
Answer:
because sales orientation reminds the company that personal selling is ongoing and critical to the overall
brand of a company.
Question:
13. What are examples of sales orientation (companies that rely heavily on skilled sales or customer
service representatives) ? (5)
, Answer:
financial services insurance companies, cosmetic home improvement companies, telecommunication
companies.
Question:
14. which marketing management philosophy is this? This occurs when the company gives customers what
they want and does it better than the competition. This strategy focuses on the customer and satisfying the
customer's needs and wants.
Answer:
marketing orientation
Question:
15. What companies are examples of marketing orientation and why?
Answer:
Coca-Cola - iconic brand The Wall street Journal - premier newspaper LSU football - successful program
Amazon - one of most powerful companies because the marketing strategy focuses on the customer and
satisfying the customer's needs and wants and giving them something they will continue to use
Question:
16. What 4 concepts do marketing orientation companies understand? (Coca-Cola, The Wall Street
Journal, LSU Football, Amazon)
Answer:
(a) how to create products or services that appeal to certain target markets;
(b) how to make strategic changes and adapt as times change;
(c) how to respond to competition they never expected; and, finally
(d) how to consistently take care of the customer.
Question:
17. which marketing management philosophy is this? This occurs when a company adopts a marketing
orientation and they also want to be seen as genuinely good public citizens who protect the environment.
By embracing and supporting this philosophy, companies can build goodwill with communities and
society while also achieving their business goals.
Answer:
social orientation is basically the marketing orientation, satisfying the customers' needs and wants and
giving them something they want, but doing it while keeping our society safe by being good to the
environment, and while being good to others.
Question:
18. Investing in a societal orientation has been a part of businesses for almost a _________. and is included
in the marketing strategy of many companies.
Answer:
century
Question:
19. this is an example of? companies that are using plastic bottles or straws are now reconsidering how this
might be harmful to the environment and how they might have to adjust their strategy for using these
products.
CORRECT ANSWERS
Question:
1. module essays
Answer:
module essays
Question:
2. what is the concept of marketing? (3)
Answer:
-is being able to satisfy the customers' needs and wants
-and give them something better than the competition
-and achieving long term goals for the organization by satisfying customer wants and needs legally and
responsibly
Question:
3. a key goal of marketing is offering an exchange. what are the several conditions for an exchange to
occur? (5)
Note: exchange will not necissarly take place if these conditions exist, but they must exist for exchange to
be possible
Answer:
1. there needs to be at least two parties
2. each party has something of value that the other party might want.
3. each party needs to be capable of communicating what they want and delivering the product or service.
4. The persuasive nature of marketing comes into play, where each party is able to accept or reject the
exchange offer.
5. to show the importance of relationships, each party desires to deal with the other person.
Question:
4. why must companies be able to understand marketing?
Answer:
Question:
5. When analyzing how a company might operate, it is important to consider what type of ____________
It helps the company to understand more clearly their focus and how to accomplish its goals.
Answer:
marketing management philosophy
Question:
6. what are the 4 marketing management philosophies?
Answer:
production orientation sales orientation marketing orientation societal orientation
,Question:
7. which marketing management philosophy is this? This occurs when a company looks inward at what it
does best and then produces that product. The company is very good at what it is able to produce, the
quality of the production, and the efficiency of the production. The company is usually focused on large
volume and efficiency of production.
Answer:
production orientation what a company does best without considering whether there is a market
Question:
8. this is an example of? fast-food restaurants focus on making large quantities every day at a low cost. If
involved in this type of restaurant business, the company is more concerned with quantity and how it can
save money while selling high volumes of products. It strives to have a good product but not a premium
product.
Answer:
production orientation there is, however, a possible mistake often made in the production orientation. In an
effort to maximize production and efficiency, the company may not have considered the market for its
product(s).
Question:
9. which marketing management philosophy is this? This occurs when a company is not concerned about
how the product is created; rather, its focus lies in assembling a skilled and highly trained sales force
whose job it is to move these products.
Answer:
sales orientation whatever an organization puts together a very skilled sales force and their job is simply to
move products-- they sell.
Question:
10. In a sales orientation, Once the sales force is established, the company _______________________ the
sales force.
Answer:
seeks new products and services to supply
Question:
11. Personal selling is a critical and valuable part of many businesses that adopt what philosophy?
Answer:
sales orientation
Question:
12. Why are sales representative's personal brand critical to the brand of sales orientation companies?
Answer:
because sales orientation reminds the company that personal selling is ongoing and critical to the overall
brand of a company.
Question:
13. What are examples of sales orientation (companies that rely heavily on skilled sales or customer
service representatives) ? (5)
, Answer:
financial services insurance companies, cosmetic home improvement companies, telecommunication
companies.
Question:
14. which marketing management philosophy is this? This occurs when the company gives customers what
they want and does it better than the competition. This strategy focuses on the customer and satisfying the
customer's needs and wants.
Answer:
marketing orientation
Question:
15. What companies are examples of marketing orientation and why?
Answer:
Coca-Cola - iconic brand The Wall street Journal - premier newspaper LSU football - successful program
Amazon - one of most powerful companies because the marketing strategy focuses on the customer and
satisfying the customer's needs and wants and giving them something they will continue to use
Question:
16. What 4 concepts do marketing orientation companies understand? (Coca-Cola, The Wall Street
Journal, LSU Football, Amazon)
Answer:
(a) how to create products or services that appeal to certain target markets;
(b) how to make strategic changes and adapt as times change;
(c) how to respond to competition they never expected; and, finally
(d) how to consistently take care of the customer.
Question:
17. which marketing management philosophy is this? This occurs when a company adopts a marketing
orientation and they also want to be seen as genuinely good public citizens who protect the environment.
By embracing and supporting this philosophy, companies can build goodwill with communities and
society while also achieving their business goals.
Answer:
social orientation is basically the marketing orientation, satisfying the customers' needs and wants and
giving them something they want, but doing it while keeping our society safe by being good to the
environment, and while being good to others.
Question:
18. Investing in a societal orientation has been a part of businesses for almost a _________. and is included
in the marketing strategy of many companies.
Answer:
century
Question:
19. this is an example of? companies that are using plastic bottles or straws are now reconsidering how this
might be harmful to the environment and how they might have to adjust their strategy for using these
products.
