COB 300D Atav Exam 1
marketing - correct answer ✔✔the process of creating, distributing, promoting, and pricing goods,
services, and ideas to facilitate satisfying exchange relationships with customers and to develop and
maintain favorable relationships with stakeholders in a dynamic environment.
customers - correct answer ✔✔The purchasers of organizations' products; the focal point of all
marketing activities
target market - correct answer ✔✔A specific group of customers on whom an organization focuses its
marketing efforts
marketing mix - correct answer ✔✔Four marketing activities—product, distribution, promotion, and
pricing—that a firm can control to meet the needs of customers within its target market
product - correct answer ✔✔A good, a service, or an idea
value - correct answer ✔✔A customer's subjective assessment of benefits relative to costs in
determining the worth of a product
benefits-costs=
marketing environment - correct answer ✔✔The competitive, economic, political, legal and regulatory,
technological, and sociocultural forces that surround the customer and affect the marketing mix
marketing concept - correct answer ✔✔A managerial philosophy that an organization should try to
satisfy customers' needs through a coordinated set of activities that also allows the organization to
achieve its goals
market orientation - correct answer ✔✔An organization-wide commitment to researching and
responding to customer needs
, -production orientation
-sales orientation
-the market orientation
Customer Relationship Management (CRM) - correct answer ✔✔Using information about customers to
create marketing strategies that develop and sustain desirable customer relationships
At the most basic level, profits can be obtained through relationships in the following ways: - correct
answer ✔✔by acquiring new customers,
by enhancing the profitability of existing customers, and
by extending the duration of customer relationships.
relationship marketing - correct answer ✔✔Establishing long-term, mutually satisfying buyer-seller
relationships
Strategic Planning - correct answer ✔✔The process of establishing an organizational mission and
formulating goals, a corporate strategy, marketing objectives, and a marketing strategy
mission statement - correct answer ✔✔A long-term view, or vision, of what the organization wants to
become
Corporate Strategy - correct answer ✔✔A strategy that determines the means for utilizing resources in
the various functional areas to reach the organization's goals
Strategic Business Unit (SBU) - correct answer ✔✔A division, product line, or other profit center within
the parent company
Competitive Growth Strategies - correct answer ✔✔market penetration, product development, market
development, diversification
marketing - correct answer ✔✔the process of creating, distributing, promoting, and pricing goods,
services, and ideas to facilitate satisfying exchange relationships with customers and to develop and
maintain favorable relationships with stakeholders in a dynamic environment.
customers - correct answer ✔✔The purchasers of organizations' products; the focal point of all
marketing activities
target market - correct answer ✔✔A specific group of customers on whom an organization focuses its
marketing efforts
marketing mix - correct answer ✔✔Four marketing activities—product, distribution, promotion, and
pricing—that a firm can control to meet the needs of customers within its target market
product - correct answer ✔✔A good, a service, or an idea
value - correct answer ✔✔A customer's subjective assessment of benefits relative to costs in
determining the worth of a product
benefits-costs=
marketing environment - correct answer ✔✔The competitive, economic, political, legal and regulatory,
technological, and sociocultural forces that surround the customer and affect the marketing mix
marketing concept - correct answer ✔✔A managerial philosophy that an organization should try to
satisfy customers' needs through a coordinated set of activities that also allows the organization to
achieve its goals
market orientation - correct answer ✔✔An organization-wide commitment to researching and
responding to customer needs
, -production orientation
-sales orientation
-the market orientation
Customer Relationship Management (CRM) - correct answer ✔✔Using information about customers to
create marketing strategies that develop and sustain desirable customer relationships
At the most basic level, profits can be obtained through relationships in the following ways: - correct
answer ✔✔by acquiring new customers,
by enhancing the profitability of existing customers, and
by extending the duration of customer relationships.
relationship marketing - correct answer ✔✔Establishing long-term, mutually satisfying buyer-seller
relationships
Strategic Planning - correct answer ✔✔The process of establishing an organizational mission and
formulating goals, a corporate strategy, marketing objectives, and a marketing strategy
mission statement - correct answer ✔✔A long-term view, or vision, of what the organization wants to
become
Corporate Strategy - correct answer ✔✔A strategy that determines the means for utilizing resources in
the various functional areas to reach the organization's goals
Strategic Business Unit (SBU) - correct answer ✔✔A division, product line, or other profit center within
the parent company
Competitive Growth Strategies - correct answer ✔✔market penetration, product development, market
development, diversification
