UGA MARK 3000 TEST 1 - McManus | Questions with 100%
Correct Answers | Verified | Latest Update 2026
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Terms in this set (209)
marketing an organizational function and a set of processes for creating,
capturing, communicating, and delivering value to customers
and for managing customer relationships in ways that benefit
the organization and its stakeholders
What is the goal of marketing? anticipating and determining the needs/wants of consumers
and satisfying those needs through the 4Ps to create long
term exchanges of value
marketing plan a written doc composed of an analysis of the current
marketing situation, opportunities and threats for the firm,
marketing objectives and strategy specified in terms of the
four P's, action programs, and projected or pro forma income
(and other financial) statements
exchange the trade of things of value between the buyer and the seller
so that each is better off as a result
marketing mix (4 P's) Product, Price, Place, and Promotion
-the controllable set of activities that a firm uses to respond to
the wants of its target market
marketing mix (4 P's): product creating value
created through a variety of offerings, including goods,
services, and ideas, to satisfy customer needs.
marketing mix (4 P's): price capturing value
made up of everything a buyer gives up (money, time, energy)
in exchange for the product.
must be amount customer willing to pay and which gives a
profit
marketing mix (4 P's): place delivering the value proposition
all activities needed to get the product to the right customer
when the customer wants it
supply chain management
, marketing mix (4 P's): promotion communicating value;
communication that informs, persuades, and reminds potential
buyers about a product or service
ideas intellectual concepts- thoughts, opinions, and philosophies
supply chain management the set of approaches and techniques that firms employ to
efficiently and effectively integrate their suppliers,
manufacturers, warehouses, stores, and other firms involved in
the transacting into a seamless value chain in which
merchandise is produced and distributed in the right
quantities, to the right locations, and at the right time while
minimizing system wide costs and satisfying the service levels
required by customers.
business-to-consumer marketing (B2C) process in which businesses sell to consumers
business-to-business marketing (B2B) process of buying and selling goods or services to be used in
the production of other goods and services, for consumption
by the buying organization, or for resale by wholesalers and
retailers
consumer-to-consumer marketing (C2C) process in which consumers sell to other consumers
value reflects the relationship of benefits to costs, or what the
consumer gets for what he or she gives
it is created through the marketing mix (4 Ps)
value cocreation customers act as collaborators with a manufacturer or retailer
to create the product or service
Corporate Orientation: Production What does the firm do best?
Focus on internal capability and technology
Corporate Orientation: Sales How can we sell more of what we have?
Focus on sales techniques
Corporate Orientation - Value-based What does the customer want?
Marketing Satisfy consumer needs/wants while meeting organizational
objective
societal marketing orientation focus on enhancing benefits to society- how do i meet
customers needs and benefit society?
the marketing concept make what you can sell rather than selling what you can make
production oriented era "a good product will sell itself"
prior to 1920's
Correct Answers | Verified | Latest Update 2026
Save
Terms in this set (209)
marketing an organizational function and a set of processes for creating,
capturing, communicating, and delivering value to customers
and for managing customer relationships in ways that benefit
the organization and its stakeholders
What is the goal of marketing? anticipating and determining the needs/wants of consumers
and satisfying those needs through the 4Ps to create long
term exchanges of value
marketing plan a written doc composed of an analysis of the current
marketing situation, opportunities and threats for the firm,
marketing objectives and strategy specified in terms of the
four P's, action programs, and projected or pro forma income
(and other financial) statements
exchange the trade of things of value between the buyer and the seller
so that each is better off as a result
marketing mix (4 P's) Product, Price, Place, and Promotion
-the controllable set of activities that a firm uses to respond to
the wants of its target market
marketing mix (4 P's): product creating value
created through a variety of offerings, including goods,
services, and ideas, to satisfy customer needs.
marketing mix (4 P's): price capturing value
made up of everything a buyer gives up (money, time, energy)
in exchange for the product.
must be amount customer willing to pay and which gives a
profit
marketing mix (4 P's): place delivering the value proposition
all activities needed to get the product to the right customer
when the customer wants it
supply chain management
, marketing mix (4 P's): promotion communicating value;
communication that informs, persuades, and reminds potential
buyers about a product or service
ideas intellectual concepts- thoughts, opinions, and philosophies
supply chain management the set of approaches and techniques that firms employ to
efficiently and effectively integrate their suppliers,
manufacturers, warehouses, stores, and other firms involved in
the transacting into a seamless value chain in which
merchandise is produced and distributed in the right
quantities, to the right locations, and at the right time while
minimizing system wide costs and satisfying the service levels
required by customers.
business-to-consumer marketing (B2C) process in which businesses sell to consumers
business-to-business marketing (B2B) process of buying and selling goods or services to be used in
the production of other goods and services, for consumption
by the buying organization, or for resale by wholesalers and
retailers
consumer-to-consumer marketing (C2C) process in which consumers sell to other consumers
value reflects the relationship of benefits to costs, or what the
consumer gets for what he or she gives
it is created through the marketing mix (4 Ps)
value cocreation customers act as collaborators with a manufacturer or retailer
to create the product or service
Corporate Orientation: Production What does the firm do best?
Focus on internal capability and technology
Corporate Orientation: Sales How can we sell more of what we have?
Focus on sales techniques
Corporate Orientation - Value-based What does the customer want?
Marketing Satisfy consumer needs/wants while meeting organizational
objective
societal marketing orientation focus on enhancing benefits to society- how do i meet
customers needs and benefit society?
the marketing concept make what you can sell rather than selling what you can make
production oriented era "a good product will sell itself"
prior to 1920's
