GB 350 CASCIO FINAL EXAM STUDY GUIDE
2026 PRACTICE MATERIALS
◉ market orientation involves. Answer: - Obtaining information
about customers (micro), competitors (micro), and markets (macro)
- Examining the information from a total business perspective (see
next slide)
- Determining how to deliver superior customer value and optimize
the customer experience
- Implementing actions to provide value to customers
◉ Goal of societal marketing orientation. Answer: - Satisfy customer
wants
- Preserve or enhance individuals' and society's long-term best
interests
◉ Two obstacles that may face the societal marketing-oriented firm:.
Answer: - meeting customer performance expectations
-justifying premium prices
◉ Sales and market orientations can be compared in terms of five
characteristics:. Answer: 1. The organization's focus
2. The firm's business
,3. Those to whom the product is directed
4. The firm's primary goal
5. The tools used to achieve the organization's goals
◉ The organization's focus can be on:. Answer: 1. Market
orientation: focus on building long-term relationships through
Customer-oriented personnel, Effective training programs,
Empowered employees with the authority to make decisions and
solve problems, Teamwork
2. Sales orientation: focus on short-term transactions for immediate
sales volume
◉ Customer Relationship Management (CRM). Answer: a company-
wide business strategy designed to optimize profitability, revenue,
and customer satisfaction by focusing on highly defined and precise
customer groups
◉ CRM is accomplished by. Answer: -Organizing the company
around customer segments
-Establishing and tracking customer interactions with the company.
-Fostering customer-satisfying behaviors
-Linking all processes of the company from its customers through its
suppliers
,◉ Companies that adopt CRM systems are almost always BLANK
oriented. Answer: market
◉ In a sales-oriented firm, business is defined in terms of. Answer:
goods/services
◉ In a market-oriented firm, business is defined in terms of. Answer:
benefits its customers seek
◉ benefits of a market-oriented firm. Answer: 1. Ensures that the
firm focuses on providing solutions to customer needs instead of
getting people to buy
2. Reinforces the idea that different customer segments may desire
different benefits from the same general product
3. Stimulates an awareness of changes in customer desires and
preferences so that product offerings are more likely to remain
relevant
◉ Sales-oriented firms target. Answer: everybody or "the average
comsumer"
◉ Market-oriented firms target. Answer: specific groups of
customers for mutually beneficial value exchanges using carefully
strategized marketing strategies
, ◉ goal of a sales-oriented firm. Answer: achieve profitability
through sales volume and tries to convince potential customers to
buy, even if the seller knows that the customer and product are
mismatched
◉ goal of a market-oriented firm. Answer: to be "profitable"
(however they define it) by:
- Creating customer value
- Providing customer satisfaction
- Building long-term relationships with customers
◉ primary tool(s) used in a sales-oriented firm. Answer: promotion
◉ primary tool(s) used in a market-oriented firm. Answer: Effective
combination of Product, Price, Distribution (Place), and Promotion
◉ Why study marketing?. Answer: - Marketing plays an important
role in society.
- Marketing is important to businesses.
- Marketing offers outstanding career opportunities.
- Marketing affects your life every day.
2026 PRACTICE MATERIALS
◉ market orientation involves. Answer: - Obtaining information
about customers (micro), competitors (micro), and markets (macro)
- Examining the information from a total business perspective (see
next slide)
- Determining how to deliver superior customer value and optimize
the customer experience
- Implementing actions to provide value to customers
◉ Goal of societal marketing orientation. Answer: - Satisfy customer
wants
- Preserve or enhance individuals' and society's long-term best
interests
◉ Two obstacles that may face the societal marketing-oriented firm:.
Answer: - meeting customer performance expectations
-justifying premium prices
◉ Sales and market orientations can be compared in terms of five
characteristics:. Answer: 1. The organization's focus
2. The firm's business
,3. Those to whom the product is directed
4. The firm's primary goal
5. The tools used to achieve the organization's goals
◉ The organization's focus can be on:. Answer: 1. Market
orientation: focus on building long-term relationships through
Customer-oriented personnel, Effective training programs,
Empowered employees with the authority to make decisions and
solve problems, Teamwork
2. Sales orientation: focus on short-term transactions for immediate
sales volume
◉ Customer Relationship Management (CRM). Answer: a company-
wide business strategy designed to optimize profitability, revenue,
and customer satisfaction by focusing on highly defined and precise
customer groups
◉ CRM is accomplished by. Answer: -Organizing the company
around customer segments
-Establishing and tracking customer interactions with the company.
-Fostering customer-satisfying behaviors
-Linking all processes of the company from its customers through its
suppliers
,◉ Companies that adopt CRM systems are almost always BLANK
oriented. Answer: market
◉ In a sales-oriented firm, business is defined in terms of. Answer:
goods/services
◉ In a market-oriented firm, business is defined in terms of. Answer:
benefits its customers seek
◉ benefits of a market-oriented firm. Answer: 1. Ensures that the
firm focuses on providing solutions to customer needs instead of
getting people to buy
2. Reinforces the idea that different customer segments may desire
different benefits from the same general product
3. Stimulates an awareness of changes in customer desires and
preferences so that product offerings are more likely to remain
relevant
◉ Sales-oriented firms target. Answer: everybody or "the average
comsumer"
◉ Market-oriented firms target. Answer: specific groups of
customers for mutually beneficial value exchanges using carefully
strategized marketing strategies
, ◉ goal of a sales-oriented firm. Answer: achieve profitability
through sales volume and tries to convince potential customers to
buy, even if the seller knows that the customer and product are
mismatched
◉ goal of a market-oriented firm. Answer: to be "profitable"
(however they define it) by:
- Creating customer value
- Providing customer satisfaction
- Building long-term relationships with customers
◉ primary tool(s) used in a sales-oriented firm. Answer: promotion
◉ primary tool(s) used in a market-oriented firm. Answer: Effective
combination of Product, Price, Distribution (Place), and Promotion
◉ Why study marketing?. Answer: - Marketing plays an important
role in society.
- Marketing is important to businesses.
- Marketing offers outstanding career opportunities.
- Marketing affects your life every day.
