Marketing 3000 midterm chapters 1-7
questions with verified answers
marketing - ANS ✔✔the activity, set of institutions, and processes fro creating for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society
exchange - ANS ✔✔people giving up something in order to receive something else they would
rather have
production orientation - ANS ✔✔focuses on internal capabilities of the firm rather than desires
and needs of the market place
sales orientation - ANS ✔✔people will buy more services/goods if aggressive sales techniques
are used, and higher sales mean higher profit
marketing concept - ANS ✔✔social and economic justification for existence which satisfies
customers wants and needs while meeting objectives
market orientation - ANS ✔✔sales doesn't depend on aggressive sales technique but more on a
customers decision to purchase
societal marketing orientation - ANS ✔✔organizations exist to satisfy customer wants, needs,
meet organizational objectives, and preserve/ enhance people's long-term best interests
customer value - ANS ✔✔relationship between benefits and sacrifice to get those benefits
, customer satisfaction - ANS ✔✔customers evaluation of a good or service in terms of whether it
has met their needs/expectations
relationship marketing - ANS ✔✔keeping and improving relationships with customers
empowerment - ANS ✔✔being able to solve a customers problems quickly
customer relationship management (CRM) - ANS ✔✔business strategy designed to optimize
profitability, revenue, and customer satisfaction by focusing on highly defined and precise
customer groups
on-demand marketing - ANS ✔✔consumers...
1. want to interact anywhere, anytime
2. want to do new things with varied kinds of information in ways that create value
3. expect data stored abt them to be targeted specifically to their needs
4. expect interactions with company to be easy
5 conditions of exchange - ANS ✔✔1. at least two parties
......each party....
2. must have something of value to the other party
3. is capable of communication and delivery
4. is free to accept/ reject exchange offer
5. believes appropriate and desirable to deal with other party
strategic planning - ANS ✔✔process of creating and maintaining a fit b/w organizations
objectives and resources and the evolving market opportunities
questions with verified answers
marketing - ANS ✔✔the activity, set of institutions, and processes fro creating for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society
exchange - ANS ✔✔people giving up something in order to receive something else they would
rather have
production orientation - ANS ✔✔focuses on internal capabilities of the firm rather than desires
and needs of the market place
sales orientation - ANS ✔✔people will buy more services/goods if aggressive sales techniques
are used, and higher sales mean higher profit
marketing concept - ANS ✔✔social and economic justification for existence which satisfies
customers wants and needs while meeting objectives
market orientation - ANS ✔✔sales doesn't depend on aggressive sales technique but more on a
customers decision to purchase
societal marketing orientation - ANS ✔✔organizations exist to satisfy customer wants, needs,
meet organizational objectives, and preserve/ enhance people's long-term best interests
customer value - ANS ✔✔relationship between benefits and sacrifice to get those benefits
, customer satisfaction - ANS ✔✔customers evaluation of a good or service in terms of whether it
has met their needs/expectations
relationship marketing - ANS ✔✔keeping and improving relationships with customers
empowerment - ANS ✔✔being able to solve a customers problems quickly
customer relationship management (CRM) - ANS ✔✔business strategy designed to optimize
profitability, revenue, and customer satisfaction by focusing on highly defined and precise
customer groups
on-demand marketing - ANS ✔✔consumers...
1. want to interact anywhere, anytime
2. want to do new things with varied kinds of information in ways that create value
3. expect data stored abt them to be targeted specifically to their needs
4. expect interactions with company to be easy
5 conditions of exchange - ANS ✔✔1. at least two parties
......each party....
2. must have something of value to the other party
3. is capable of communication and delivery
4. is free to accept/ reject exchange offer
5. believes appropriate and desirable to deal with other party
strategic planning - ANS ✔✔process of creating and maintaining a fit b/w organizations
objectives and resources and the evolving market opportunities
