AEM 2400 questions with correct answers

Marketing - Answer Marketing is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large Exchange - Answer Desired outcome of marketing - give up something to receive something you'd rather have. Conditions of Exchange - Answer -2 parties -Each party has something of value -Each party is capable of communication and delivery -Each party is free to accept or reject the exchange offer -Each party believes it is appropriate or desirable to deal with the other party 4 Marketing Management Orientations - Answer -Production -Sales -Marketing -Societal Production Orientation - Answer Focuses on the internal capabilities rather than on the desires and needs of the marketplace. This orientation looks at what the company is best at making at. Sales Orientation - Answer The belief that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits. Can lead to lack of understanding of wants and needs of the marketplace. Also inward focused.