MKT 300 EATON ASU EXAM 1 QUESTIONS
What is Marketing? - Answers -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: - Answers -Creating Exchanges
Identity
Connections
Relationships
Solving Customer Problems
What are the 4 P's of Marketing - Answers -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? - Answers -Two parties
Something of value
Communication and delivery
Freedom to accept or reject
Desire to deal with other parties
What are Demographics? - Answers -Variables that allow us to group people together,
an example would be age or gender.
What are Psychographics? - Answers -They are what makes us different from one
another, attitudes, aspirations, causes.
What is the Marketing Concept? - Answers -A consumer oriented philosophy of fulfilling
customer needs above all else.
What are the key ideas of the Marketing Production Philosophy - Answers -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This technique is very old and outdated it was used by Henry Ford during his era.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 - Answers -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 - Answers -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 - Answers -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 - Answers -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 - Answers -Creating
Customer Value
Building Long Term Relationships
Maintaining Customer Satisfaction
What is the Marketing Environment? - Answers -A set of forces, come uncontrollable
and some controllable, that influence the ability of a business to create value and attract
and serve customers.
How has the customers values today changed socially? - Answers -In terms of values
customers nowadays value achievement and success, efficiency and convenience,
material comfort, individualism and freedom, fitness and youthfulness.
How has the customers household structure changed? - Answers -We now have more
delayed marriages, Cohabitation, dual career families, more divorce, and smaller
families
What has the greatest impact on marketing than any other social change? - Answers -
The changing roles of women, women now comprise 63% of females in the workplace.
Purchasing power from the dual-career families is rising. Women are also living longer.
What is generic competition? - Answers -Anything that competes for the same
consumer disposable dollars.
What is Marketing? - Answers -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: - Answers -Creating Exchanges
Identity
Connections
Relationships
Solving Customer Problems
What are the 4 P's of Marketing - Answers -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? - Answers -Two parties
Something of value
Communication and delivery
Freedom to accept or reject
Desire to deal with other parties
What are Demographics? - Answers -Variables that allow us to group people together,
an example would be age or gender.
What are Psychographics? - Answers -They are what makes us different from one
another, attitudes, aspirations, causes.
What is the Marketing Concept? - Answers -A consumer oriented philosophy of fulfilling
customer needs above all else.
What are the key ideas of the Marketing Production Philosophy - Answers -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 - Answers -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 - Answers -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 - Answers -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 - Answers -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 - Answers -Creating
Customer Value
Building Long Term Relationships
Maintaining Customer Satisfaction
What is the Marketing Environment? - Answers -A set of forces, come uncontrollable
and some controllable, that influence the ability of a business to create value and attract
and serve customers.
How has the customers values today changed socially? - Answers -In terms of values
customers nowadays value achievement and success, efficiency and convenience,
material comfort, individualism and freedom, fitness and youthfulness.
How has the customers household structure changed? - Answers -We now have more
delayed marriages, Cohabitation, dual career families, more divorce, and smaller
families
What has the greatest impact on marketing than any other social change? - Answers -
The changing roles of women, women now comprise 63% of females in the workplace.
Purchasing power from the dual-career families is rising. Women are also living longer.
What is generic competition? - Answers -Anything that competes for the same
consumer disposable dollars.
