MKT 300 Questions with answers
well graded and defined A+
What is Marketing? - ANS✅✅An organizational function and a collection of processes designed to
plan for, create, communicate and deliver value to custoemrs and build effective customer
relationships in ways that benefit the organization and its stakeholders.
Marketing is about: - ANS✅✅Creating Exchanges
Identity
Connections
Relationships
Solving Customer Problems
What are the 4 P's of Marketing - ANS✅✅Product
Price
Promotion
Place (Distribtuion)
- A combination of factors that can be controlled by a company to influence consumers to purchase
its products
What are the Conditions for Exchange? - ANS✅✅Two parties
Something of value
Communication and delivery
Freedom to accept or reject
Desire to deal with other parties
What are Demographics? - ANS✅✅Variables that allow us to group people together, an example
would be age or gender.
What are Psychographics? - ANS✅✅They are what makes us different from one another, attitudes,
aspirations, causes.
, What is the Marketing Concept? - ANS✅✅A consumer oriented philosophy of fulfilling customer
needs above all else.
What are the key ideas of the Marketing Production Philosophy - ANS✅✅Focus on efficiency of
internal operations
This technique is very old and outdated it was used by Henry Ford during his era.
What are the key ideas of the Marketing Market Philosophy - ANS✅✅Focus on satisfying customer
needs and wants
Began in the 1980s due to the size of the global market. Companies began getting more and more
competitive especially with the emerging computers and the internet. Companies began focusing on
the customer.
What are the key ideas of the Marketing Sales Philosophy - ANS✅✅Focus on aggressive
techniques for overcoming customer resistance
This started in the Great Depression due to lack of customers, companies needed to begin
advertising to create demand.
What are the key ideas of the Marketing Societal Philosophy - ANS✅✅Focus on satisfying needs
and wants while enhancing individual and societal well-being
Ethical and environmentally friendly, Companies are now starting to realize the benefits of becoming
environmentally aware. Companies such as General Mills and Toyota have taken this strategy.
What is Market Orientation - ANS✅✅Understanding your customers needs by, Gathering market
intelligence by talking to your customers, and then disseminate the knowledge to your company and
then coordinate a response.
What are the Key issues in Developing a Competitive Advantage - ANS✅✅Creating Customer Value
Building Long Term Relationships
Maintaining Customer Satisfaction
well graded and defined A+
What is Marketing? - ANS✅✅An organizational function and a collection of processes designed to
plan for, create, communicate and deliver value to custoemrs and build effective customer
relationships in ways that benefit the organization and its stakeholders.
Marketing is about: - ANS✅✅Creating Exchanges
Identity
Connections
Relationships
Solving Customer Problems
What are the 4 P's of Marketing - ANS✅✅Product
Price
Promotion
Place (Distribtuion)
- A combination of factors that can be controlled by a company to influence consumers to purchase
its products
What are the Conditions for Exchange? - ANS✅✅Two parties
Something of value
Communication and delivery
Freedom to accept or reject
Desire to deal with other parties
What are Demographics? - ANS✅✅Variables that allow us to group people together, an example
would be age or gender.
What are Psychographics? - ANS✅✅They are what makes us different from one another, attitudes,
aspirations, causes.
, What is the Marketing Concept? - ANS✅✅A consumer oriented philosophy of fulfilling customer
needs above all else.
What are the key ideas of the Marketing Production Philosophy - ANS✅✅Focus on efficiency of
internal operations
This technique is very old and outdated it was used by Henry Ford during his era.
What are the key ideas of the Marketing Market Philosophy - ANS✅✅Focus on satisfying customer
needs and wants
Began in the 1980s due to the size of the global market. Companies began getting more and more
competitive especially with the emerging computers and the internet. Companies began focusing on
the customer.
What are the key ideas of the Marketing Sales Philosophy - ANS✅✅Focus on aggressive
techniques for overcoming customer resistance
This started in the Great Depression due to lack of customers, companies needed to begin
advertising to create demand.
What are the key ideas of the Marketing Societal Philosophy - ANS✅✅Focus on satisfying needs
and wants while enhancing individual and societal well-being
Ethical and environmentally friendly, Companies are now starting to realize the benefits of becoming
environmentally aware. Companies such as General Mills and Toyota have taken this strategy.
What is Market Orientation - ANS✅✅Understanding your customers needs by, Gathering market
intelligence by talking to your customers, and then disseminate the knowledge to your company and
then coordinate a response.
What are the Key issues in Developing a Competitive Advantage - ANS✅✅Creating Customer Value
Building Long Term Relationships
Maintaining Customer Satisfaction
