MKT 3401 Midterm - Ledet LSU Exam Questions with Correct Answers Latest Update
2025/2026
production orientation - Answers orientation focused on the internal capabilities of an
organization as opposed to the desires of the marketplace
Sales Orientation - Answers the belief that people will buy more goods and services if
aggressive sales techniques are used and that high sales result in high profits
Market Orientation - Answers the idea that a sale does not depend on an aggressive sales force
but rather on a customer's decision to purchase a product
societal marketing orientation - Answers the idea that an organization exists not only to satisfy
customer wants and needs and to meet organizational objectives but also to preserve or
enhance individuals' and society's long-term best interests
Marketing - Answers the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and society
at large
an exchange - Answers people giving up something in return for something else
Customer Value - Answers the relationship between benefits and the sacrifice necessary to
obtain those benefits
Four P's - Answers Product, Price, Place, Promotion
product - Answers the thing being sold, its packaging, warranty, after sale service, brand name,
company image, value, and many other factors. Can be tangible or intangible
place - Answers distribution strategies are the way we make products available to individuals
when and where they want them
promotion - Answers advertising, personal selling, sales promotion, public relations. Promos
role in the mix is to bring out satisfying exchanges.
price - Answers what a buyer has to give up in order to receive a product
Elements of a Marketing Plan - Answers implementation, evaluation and control, Post-Audit
Tasks.
Implementation - Answers the tasks that allow an organization to implement their plan,
Implemented in a way that ensures the assignments are executed in a way that accomplishes
the plans objectives.
Evaluation and Control - Answers gauging the extent to which the marketing objectives have
been achieved during the specified time period
2025/2026
production orientation - Answers orientation focused on the internal capabilities of an
organization as opposed to the desires of the marketplace
Sales Orientation - Answers the belief that people will buy more goods and services if
aggressive sales techniques are used and that high sales result in high profits
Market Orientation - Answers the idea that a sale does not depend on an aggressive sales force
but rather on a customer's decision to purchase a product
societal marketing orientation - Answers the idea that an organization exists not only to satisfy
customer wants and needs and to meet organizational objectives but also to preserve or
enhance individuals' and society's long-term best interests
Marketing - Answers the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and society
at large
an exchange - Answers people giving up something in return for something else
Customer Value - Answers the relationship between benefits and the sacrifice necessary to
obtain those benefits
Four P's - Answers Product, Price, Place, Promotion
product - Answers the thing being sold, its packaging, warranty, after sale service, brand name,
company image, value, and many other factors. Can be tangible or intangible
place - Answers distribution strategies are the way we make products available to individuals
when and where they want them
promotion - Answers advertising, personal selling, sales promotion, public relations. Promos
role in the mix is to bring out satisfying exchanges.
price - Answers what a buyer has to give up in order to receive a product
Elements of a Marketing Plan - Answers implementation, evaluation and control, Post-Audit
Tasks.
Implementation - Answers the tasks that allow an organization to implement their plan,
Implemented in a way that ensures the assignments are executed in a way that accomplishes
the plans objectives.
Evaluation and Control - Answers gauging the extent to which the marketing objectives have
been achieved during the specified time period
