MKT 3401 Midterm - Ledet LSU Questions With
Verified Answers 2024/2025 Update| Guaranteed
100% Pass|
Production Orientation - ANS>> focuses on the internal
capabilities of the firm rather than on the desires and needs of
marketplace
sales orientation - ANS>> based on the idea that people will buy
more goods and services if aggressive sales techniques are used
and that high sales result in high profits
market orientation - ANS>> simple and intuitively appealing
philosophy that articulates a market orientation (involves
obtaining info about customers, competitors, and markets
examining the info from a total business perspective to
determine how to deliver value to customers)
societal marketing orientation - ANS>> extends the marketing
concept by acknowledging that some products that customers
want may not really be in their best interest or best interests of
society as a whole
Marketing - ANS>> a. the activity, set of institutions, and
process for creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners, and
society at large
, an exchange - ANS>> people giving up something to receive
something they would rather have
customer value - ANS>> a. relationship between benefits and
the sacrifice necessary to obtain those benefits.
How do you achieve a market orientation? - ANS>> involves
obtaining info about customers, competitors, and markets
examining the info from a total business perspective to
determine how to deliver value to customers
Product - ANS>> starting point, what you are selling/marketing
Place(distribution) - ANS>> making products available when
and where customers want them
Promotion - ANS>> advertising, public relations, sales promo,
and personal selling
Price - ANS>> what buyers must give up obtaining a product
Know elements of a marketing plan - ANS>> -business mission
-situation analysis
-objectives
- target market
-establishing components of the marketing mix
Strategic planning - ANS>> a. managerial process of creating
and maintaining a fit between the organization's objectives and
resources and the evolving market opportunities
Verified Answers 2024/2025 Update| Guaranteed
100% Pass|
Production Orientation - ANS>> focuses on the internal
capabilities of the firm rather than on the desires and needs of
marketplace
sales orientation - ANS>> based on the idea that people will buy
more goods and services if aggressive sales techniques are used
and that high sales result in high profits
market orientation - ANS>> simple and intuitively appealing
philosophy that articulates a market orientation (involves
obtaining info about customers, competitors, and markets
examining the info from a total business perspective to
determine how to deliver value to customers)
societal marketing orientation - ANS>> extends the marketing
concept by acknowledging that some products that customers
want may not really be in their best interest or best interests of
society as a whole
Marketing - ANS>> a. the activity, set of institutions, and
process for creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners, and
society at large
, an exchange - ANS>> people giving up something to receive
something they would rather have
customer value - ANS>> a. relationship between benefits and
the sacrifice necessary to obtain those benefits.
How do you achieve a market orientation? - ANS>> involves
obtaining info about customers, competitors, and markets
examining the info from a total business perspective to
determine how to deliver value to customers
Product - ANS>> starting point, what you are selling/marketing
Place(distribution) - ANS>> making products available when
and where customers want them
Promotion - ANS>> advertising, public relations, sales promo,
and personal selling
Price - ANS>> what buyers must give up obtaining a product
Know elements of a marketing plan - ANS>> -business mission
-situation analysis
-objectives
- target market
-establishing components of the marketing mix
Strategic planning - ANS>> a. managerial process of creating
and maintaining a fit between the organization's objectives and
resources and the evolving market opportunities
