MARK 3321 FINAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY
GRADED A+
Marketing Management Philosophies Ans✓✓✓Four competing
philosophies that stronly influence an organization's marketing
processes.
What are the four marketing management philosophies?
Ans✓✓✓Production, sales, market and societal.
production orientation Ans✓✓✓A philosophy that focuses on the
internal capabilities of the firm rather than on the desires and need of the
marketplace. Ex. furniture industry is infamous for diregarding their
customers needs.
sales orientation Ans✓✓✓Belief that people will buy more goods and
services if aggressive sales techniques are used and that high sales result
in high profits. Ex. Telemarketer
market orientation Ans✓✓✓Belief that a sale does not depend on an
aggresive sales technique, rather on a customer's decision to buy a
product. Ex. Retail stores
societal marketing orientation Ans✓✓✓Acknowledges that some
products that customers want may not really be in their best interests or
the best interests of society as a whole.
, strategic planning Ans✓✓✓The managerial process of creating and
maintaining a fit between the organization's objectives and resources and
the evolving market opprotunites. (goal is to promote long run profit and
growth)
What are the four strategic alternatives? Ans✓✓✓market penetration,
market development, product development, diversification
market penetration Ans✓✓✓marketing strategy that tries to increase
market share among exsisting customers (starbucks sells more coffee to
customers that sign up for their new starbucks cards)
market development Ans✓✓✓marketing strategy that entails attracting
new customers to exsisting products (starbucks opens stores in Brazil
and Chile)
product development Ans✓✓✓marketing strategy that entails the
creation of new products for present markets (starbucks develops
powdered instant coffee called Via)
diversification Ans✓✓✓strategy of increasing sales by introducing new
products into new markets (starbucks launches Hear Music and buys
Ethos Water.)
DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY
GRADED A+
Marketing Management Philosophies Ans✓✓✓Four competing
philosophies that stronly influence an organization's marketing
processes.
What are the four marketing management philosophies?
Ans✓✓✓Production, sales, market and societal.
production orientation Ans✓✓✓A philosophy that focuses on the
internal capabilities of the firm rather than on the desires and need of the
marketplace. Ex. furniture industry is infamous for diregarding their
customers needs.
sales orientation Ans✓✓✓Belief that people will buy more goods and
services if aggressive sales techniques are used and that high sales result
in high profits. Ex. Telemarketer
market orientation Ans✓✓✓Belief that a sale does not depend on an
aggresive sales technique, rather on a customer's decision to buy a
product. Ex. Retail stores
societal marketing orientation Ans✓✓✓Acknowledges that some
products that customers want may not really be in their best interests or
the best interests of society as a whole.
, strategic planning Ans✓✓✓The managerial process of creating and
maintaining a fit between the organization's objectives and resources and
the evolving market opprotunites. (goal is to promote long run profit and
growth)
What are the four strategic alternatives? Ans✓✓✓market penetration,
market development, product development, diversification
market penetration Ans✓✓✓marketing strategy that tries to increase
market share among exsisting customers (starbucks sells more coffee to
customers that sign up for their new starbucks cards)
market development Ans✓✓✓marketing strategy that entails attracting
new customers to exsisting products (starbucks opens stores in Brazil
and Chile)
product development Ans✓✓✓marketing strategy that entails the
creation of new products for present markets (starbucks develops
powdered instant coffee called Via)
diversification Ans✓✓✓strategy of increasing sales by introducing new
products into new markets (starbucks launches Hear Music and buys
Ethos Water.)
