MIE 201 Exam 4 NCSU Practice Exam And Correct Answers.

marketing - Answer a group of activities designed to expedite transactions, by creating, distributing, pricing, and promoting goods, services, and ideas exchange - Answer act of giving up one thing in return for something else functions of marketing - Answer buying, selling, transporting, storing, grading, financing, marketing research, risk taking time utility - Answer ability to satisfy demand in a timely manner grading - Answer standardizing products by dividing them into subgroups and displaying and labeling them so that consumers clearly understand their nature and quality value - Answer a customers' subjective assessment of benefits relative to costs in determining the worth of a product marketing concept - Answer the idea that an organization should try to satisfy customers' needs through coordinated activities that also allow it to achieve its ow goals production orientation - Answer second half of 19th century where new management ideas, lots of efficiency, and a strong demand for manufactured goods sprouted market orientation - Answer 1950s when suppliers realized they must know what customers want before they produce anything sales orientation - Answer first half of 20th century where supply surpassed demand so suppliers had to sell products.