GB 350 FINAL EXAM-- OLE MISS
CASICO QUESTIONS AND ANSWERS
marketing - Correct 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
Marketing balance - Correct Answers -balances 2 equally important goals through long
term, mutually rewarding relationships with customers:
between exchange value
and
meet organizational objectives
tradeblock - Correct Answers -example of marketing:
- sneaker-trading app
- they launched in 2020
balancing the marketing goals
what does good marketing do? - Correct Answers -entails processes that focus on
delivering value and benefits to customers, not just selling products and services
marketing myopia - Correct Answers -the perspective of marketing as selling products
and services;
Marketing Myopia Example - Correct Answers -Railroad companies saw themselves as
in the railroad business not the transportation business and were blindsided by other
competitors
Bracketing - Correct Answers -e commerce customers order different sizes /colors of
fashion items with the intention of returning at least one alternative
so the environment is - Correct Answers -stakeholder
understanding "exchange" from a marketing standpoint - Correct Answers -exchange-
people giving up something in order to receive something else they would rather have
,An exchange can take place only if the following five conditions exist: - Correct Answers
-1. there must be at least parties
2. each party has something that might be of value to the other party
3. terms of the exchange are appropriately communicated and received by each party
4. each party is free to accept or reject the exchange offer
5. each party believes it is appropriated or desirable to deal with the other party
exchange example - Correct Answers -- hard to cancel a subscription
- Sephora fined 1.2 m for not disclosing sale of customer data
- capable of making decision- age
-value -- going to class-- what to gain
marketing management philosophies - Correct Answers -Production, Sales, Market,
Societal marketing
production - Correct Answers -internal capabilities of the firm
example: bed bath and beyond faces uncertain future after former CEO pushed rapid
launch of private labels
LIKE TARGET
( financial issues) with selling
NOT GIVING THEIR CUSTOMERS TO COME TO THE STORE
SALES - Correct Answers -aggressive sales techniques and belief that high sales result
in high profits
example:
unkept promises and misleading information make these the worst TIMESHARE
COMPANIES, according to this article
EXAMPLE;
WELLSFARGO
MARKET - Correct Answers -satisfying customer wants and needs while meeting
organizational objectives
EXAMPLE: BAMA BEER LINES- educates on how to clean beer lines to satisfy
customers
societal marketing - Correct Answers -satisfying customer wants and need while
enhancing individual and societal well - being
example:
better place brands-- donates 20% of all coffee/ apparel sales to namesake breed
rescues
,production orientation - Correct Answers -a philosophy that focuses on the internal
capabilities of the firm rather than on the desires and needs of the marketplace
production-oriented firms survive if - Correct Answers -- competition is week
- demand exceeds supply
product orientation example - Correct Answers -cable tv
- over 60 m consumers no longer use cable
sales orientation - Correct Answers -the belief that aggressive promotion techniques
result in high sales, which result in high profits, short term exchanges will be sufficient
for long term success
- signed contract that she regret
primary tool for exchanging value - Correct Answers -promotion
market orientation - Correct Answers -focusing on customer wants and needs ( benefits
instead of product features) so that the organization can distinguish its product(s) from
competitors offerings
marketing 4 points - Correct Answers -adoption, retention, expansion, advocacy
adoption - Correct Answers -"onboarding" new customers by educating them about how
to use the product/service; offering an easy return process for dissatisfied customers
example: bought a 2021 Lincoln used to having a 2007 car-- had to figure out how to
use seat warmers
retention - Correct Answers -delivering such a great experience that the customer
comes back when the need arises again; making it easy to come back
example Kothari :diaper company gives a certain percentage off
- reach out to customers
expansion - Correct Answers -offering other products/services that existing customers
might need
example: transition from regular diaper to pull up diaper
advocacy - Correct Answers -having a mechanism in place that allows happy customers
to sing your praises
example : product review-- earn points toward purchases
, market orientation - Correct Answers -- obtaining information about customers(micro) ,
competitors(micro) , and markets (macro
what really matters?
AB inbev( beer maker) invest in dating app --- serve intentional daters
implementing actions to provide value to customers - Correct Answers -- internal
marketing and effective employee training
- happy employees = happy customers
example:Dyrt founder--sent employees too see what they wanted to add to the campsite
for the customers
market orientation and the total business perspective - Correct Answers -the baldridge
performant excellence framework
- focuses on a total business perspective
- comes from the business core values
MID AMERICA TRANSPLANT: 2021 nonprofit baldric winner profile
SOCIETAL MARKETING ORIENTATION - Correct Answers -two obstacles may face:
- meeting customer performance expectation
example: eco friendly-- blue land's cleaners
-justifying priemium prices
- kothara diaper example
- buying oil from one place may be more expensive because of how healthy it is to the
world
sales and market orientation can be compared in terms of five characteristics - Correct
Answers -1. the organization's focus
2. the firm's business
3. those to whom the product is directed
4. the firm's primary focus
5. the tools used to achieve the organization goals
the organization focus - Correct Answers -market orientation- focusing on building long
term relationships through
- customer - oriented personel
-effective training programs
- empowered employees with the authority to make decisions and solve problems(
phone call example)
- teamwork
CASICO QUESTIONS AND ANSWERS
marketing - Correct 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
Marketing balance - Correct Answers -balances 2 equally important goals through long
term, mutually rewarding relationships with customers:
between exchange value
and
meet organizational objectives
tradeblock - Correct Answers -example of marketing:
- sneaker-trading app
- they launched in 2020
balancing the marketing goals
what does good marketing do? - Correct Answers -entails processes that focus on
delivering value and benefits to customers, not just selling products and services
marketing myopia - Correct Answers -the perspective of marketing as selling products
and services;
Marketing Myopia Example - Correct Answers -Railroad companies saw themselves as
in the railroad business not the transportation business and were blindsided by other
competitors
Bracketing - Correct Answers -e commerce customers order different sizes /colors of
fashion items with the intention of returning at least one alternative
so the environment is - Correct Answers -stakeholder
understanding "exchange" from a marketing standpoint - Correct Answers -exchange-
people giving up something in order to receive something else they would rather have
,An exchange can take place only if the following five conditions exist: - Correct Answers
-1. there must be at least parties
2. each party has something that might be of value to the other party
3. terms of the exchange are appropriately communicated and received by each party
4. each party is free to accept or reject the exchange offer
5. each party believes it is appropriated or desirable to deal with the other party
exchange example - Correct Answers -- hard to cancel a subscription
- Sephora fined 1.2 m for not disclosing sale of customer data
- capable of making decision- age
-value -- going to class-- what to gain
marketing management philosophies - Correct Answers -Production, Sales, Market,
Societal marketing
production - Correct Answers -internal capabilities of the firm
example: bed bath and beyond faces uncertain future after former CEO pushed rapid
launch of private labels
LIKE TARGET
( financial issues) with selling
NOT GIVING THEIR CUSTOMERS TO COME TO THE STORE
SALES - Correct Answers -aggressive sales techniques and belief that high sales result
in high profits
example:
unkept promises and misleading information make these the worst TIMESHARE
COMPANIES, according to this article
EXAMPLE;
WELLSFARGO
MARKET - Correct Answers -satisfying customer wants and needs while meeting
organizational objectives
EXAMPLE: BAMA BEER LINES- educates on how to clean beer lines to satisfy
customers
societal marketing - Correct Answers -satisfying customer wants and need while
enhancing individual and societal well - being
example:
better place brands-- donates 20% of all coffee/ apparel sales to namesake breed
rescues
,production orientation - Correct Answers -a philosophy that focuses on the internal
capabilities of the firm rather than on the desires and needs of the marketplace
production-oriented firms survive if - Correct Answers -- competition is week
- demand exceeds supply
product orientation example - Correct Answers -cable tv
- over 60 m consumers no longer use cable
sales orientation - Correct Answers -the belief that aggressive promotion techniques
result in high sales, which result in high profits, short term exchanges will be sufficient
for long term success
- signed contract that she regret
primary tool for exchanging value - Correct Answers -promotion
market orientation - Correct Answers -focusing on customer wants and needs ( benefits
instead of product features) so that the organization can distinguish its product(s) from
competitors offerings
marketing 4 points - Correct Answers -adoption, retention, expansion, advocacy
adoption - Correct Answers -"onboarding" new customers by educating them about how
to use the product/service; offering an easy return process for dissatisfied customers
example: bought a 2021 Lincoln used to having a 2007 car-- had to figure out how to
use seat warmers
retention - Correct Answers -delivering such a great experience that the customer
comes back when the need arises again; making it easy to come back
example Kothari :diaper company gives a certain percentage off
- reach out to customers
expansion - Correct Answers -offering other products/services that existing customers
might need
example: transition from regular diaper to pull up diaper
advocacy - Correct Answers -having a mechanism in place that allows happy customers
to sing your praises
example : product review-- earn points toward purchases
, market orientation - Correct Answers -- obtaining information about customers(micro) ,
competitors(micro) , and markets (macro
what really matters?
AB inbev( beer maker) invest in dating app --- serve intentional daters
implementing actions to provide value to customers - Correct Answers -- internal
marketing and effective employee training
- happy employees = happy customers
example:Dyrt founder--sent employees too see what they wanted to add to the campsite
for the customers
market orientation and the total business perspective - Correct Answers -the baldridge
performant excellence framework
- focuses on a total business perspective
- comes from the business core values
MID AMERICA TRANSPLANT: 2021 nonprofit baldric winner profile
SOCIETAL MARKETING ORIENTATION - Correct Answers -two obstacles may face:
- meeting customer performance expectation
example: eco friendly-- blue land's cleaners
-justifying priemium prices
- kothara diaper example
- buying oil from one place may be more expensive because of how healthy it is to the
world
sales and market orientation can be compared in terms of five characteristics - Correct
Answers -1. the organization's focus
2. the firm's business
3. those to whom the product is directed
4. the firm's primary focus
5. the tools used to achieve the organization goals
the organization focus - Correct Answers -market orientation- focusing on building long
term relationships through
- customer - oriented personel
-effective training programs
- empowered employees with the authority to make decisions and solve problems(
phone call example)
- teamwork
