MAR 3023 Final Exam 1 USF And
Already Passed Answers.
customer relationship management (CRM) - Answer a company business strategy to optimize
profitability revenue and customer satisfaction.
customer satisfaction - Answer Customer evaluation about whether a good has met their expectation
customer value - Answer The relationship between benefits and sacrifices to obtain
customer perceived value* - Answer More than a matter of high quality or high price. Includes
customization and fast delivery.
market orientation - Answer Sales don't depend on being aggressive but instead supplying what people
want.
sales orientation - Answer The idea people will buy goods if you aggressively sell to them
marketing - Answer A activity, process and set of institutions dedicated to exchanging offerings of value
between customer client, partner and society
marketing concept - Answer The idea that and organization exist to satisfy customer needs while meet
organizational objectives
sales concept* - Answer aggressive techniques; consumers will buy if pushed, high sales.
production concept* - Answer Focus on improving products production, distro, internal capabilities,
features.
, production orientation - Answer A philosophy focused on the the internal capabilities of the firm rather
than the desire and needs of a marketplace.
relationship marketing - Answer A strategy that focuses on keeping and improving relationships with
current customers
societal marketing orientation - Answer The idea that an organization exist not only to satisfy customer
wants and needs and to meet organization objectives but also to preserve and enhance the individual
and society
customer lifetime value* - Answer is a prediction of all the value a business will derive from their entire
relationship with a customer
cash cow - Answer a business units that generates more cash than it needs to maintain market share
competitive advantage - Answer A set of unique features of a company and its products that are
perceived by the target makert as superior
diversification* - Answer Introducing a new product to a new markets
four Ps - Answer Product,place promotion and price which together make up marketing mix.
Product development - Answer A marketing strategy that entails the creation of a new products for
present markets
market opportunity * - Answer Newly identified need, want, or demand trend that a firm can exploit
because it is not being addressed by the competitors.
market penetration - Answer a marketing strategy that tries to increase market share among existing
customers
Already Passed Answers.
customer relationship management (CRM) - Answer a company business strategy to optimize
profitability revenue and customer satisfaction.
customer satisfaction - Answer Customer evaluation about whether a good has met their expectation
customer value - Answer The relationship between benefits and sacrifices to obtain
customer perceived value* - Answer More than a matter of high quality or high price. Includes
customization and fast delivery.
market orientation - Answer Sales don't depend on being aggressive but instead supplying what people
want.
sales orientation - Answer The idea people will buy goods if you aggressively sell to them
marketing - Answer A activity, process and set of institutions dedicated to exchanging offerings of value
between customer client, partner and society
marketing concept - Answer The idea that and organization exist to satisfy customer needs while meet
organizational objectives
sales concept* - Answer aggressive techniques; consumers will buy if pushed, high sales.
production concept* - Answer Focus on improving products production, distro, internal capabilities,
features.
, production orientation - Answer A philosophy focused on the the internal capabilities of the firm rather
than the desire and needs of a marketplace.
relationship marketing - Answer A strategy that focuses on keeping and improving relationships with
current customers
societal marketing orientation - Answer The idea that an organization exist not only to satisfy customer
wants and needs and to meet organization objectives but also to preserve and enhance the individual
and society
customer lifetime value* - Answer is a prediction of all the value a business will derive from their entire
relationship with a customer
cash cow - Answer a business units that generates more cash than it needs to maintain market share
competitive advantage - Answer A set of unique features of a company and its products that are
perceived by the target makert as superior
diversification* - Answer Introducing a new product to a new markets
four Ps - Answer Product,place promotion and price which together make up marketing mix.
Product development - Answer A marketing strategy that entails the creation of a new products for
present markets
market opportunity * - Answer Newly identified need, want, or demand trend that a firm can exploit
because it is not being addressed by the competitors.
market penetration - Answer a marketing strategy that tries to increase market share among existing
customers
