MBA 706 Module 1 - Karen James
Four Marketing Activities - answer1. Creating
2. Communicating
3. Delivering
4. Exchanging
Market - answer Collection of buyers and sellers, in which a group of individuals
(consumers) or institutions (business, government, non-profits) share a need that can
be satisfied by an offering
Value - answerBenefits buyers receive that meet their needs
Personal Value Equation - answervalue = benefits received - [price + hassle]
Product Orientation - answerMKT focus on product innovation
Selling Orientation - answerMKT focus on pushing products by emphasizing advertising
and selling
Production Orientation - answerMKT focus on cutting costs, and that good products sell
themselves
Value Era - answerMKT focus on providing value for customers
Social Marketing - answerMarketing conducted to achieve a certain social objective.
Used by government agencies, nonprofit organizations, and religious organizations
4 P's of Marketing Mix - answerProduct, Price, Place, Promotion
Blue Ocean Strategy - answerBusiness-level strategy that successfully combines
differentiation and cost-leadership activities using value innovation to reconcile the
inherent trade-offs.
Four Marketing Activities - answer1. Creating
2. Communicating
3. Delivering
4. Exchanging
Market - answer Collection of buyers and sellers, in which a group of individuals
(consumers) or institutions (business, government, non-profits) share a need that can
be satisfied by an offering
Value - answerBenefits buyers receive that meet their needs
Personal Value Equation - answervalue = benefits received - [price + hassle]
Product Orientation - answerMKT focus on product innovation
Selling Orientation - answerMKT focus on pushing products by emphasizing advertising
and selling
Production Orientation - answerMKT focus on cutting costs, and that good products sell
themselves
Value Era - answerMKT focus on providing value for customers
Social Marketing - answerMarketing conducted to achieve a certain social objective.
Used by government agencies, nonprofit organizations, and religious organizations
4 P's of Marketing Mix - answerProduct, Price, Place, Promotion
Blue Ocean Strategy - answerBusiness-level strategy that successfully combines
differentiation and cost-leadership activities using value innovation to reconcile the
inherent trade-offs.
