AMA Exam Ch.1-7 with all Correct & 100% Verified
Answers |Latest Version |Already Graded A+
Marketing Management ✔Correct Answer-leading and managing the facets of marketing to
improve individual, unit, and organizational performance
Marketing ✔Correct Answer-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 Stakeholders ✔Correct Answer-any person or entity inside or outside a firm with
whom marketing interacts, impacts, and is impacted by
Societal marketing ✔Correct Answer-members of society at large can be viewed as
stakeholders for marketing
Sustainability ✔Correct Answer-business practices that meet humanity's needs without
harming future generations
Value ✔Correct Answer-ratio of the bundle of benefits a customer receives from an offering
compared to the costs incurred by the customer in acquiring that bundle of benefits
Exchange ✔Correct Answer-a person gives up something of value to them for something else
they desire to have
Production orientation ✔Correct Answer-improving products and production efficiency
without much regard for what's going on in the marketplace
Sales orientation ✔Correct Answer-to increase sales and production capacity utilization,
professional salespeople need to "push" product into the hands of customers, both businesses,
and end users
Marketing Concept ✔Correct Answer-businesswide philosophy that emphasizes an
organization-wide customer orientation with the objective of achieving long-run profits (let the
market decide what products to offer) - from GE's 1952 Annual Report
The Marketing Mix / 4 P's of Marketing ✔Correct Answer-the fundamental elements that
comprise the marketer's toolkit that can be developed in unique combinations to set the
product or brand apart from the competition (product, price, place, promotion)
Differentiation Orientation ✔Correct Answer-what clearly distinguishes your products from
those of competitors in the minds of customers
,Market Orientation ✔Correct Answer-the implementation of the marketing concept
Customer Orientation ✔Correct Answer-placing the customer at the core of all aspects of the
enterprise
Relationship Orientation ✔Correct Answer-it is far more efficient and effective to invest in
keeping and cultivating profitable current customers instead of constantly having to invest in
gaining new customers that come with unknown return on investment
One-to-One Marketing ✔Correct Answer-firms should direct energy and resources into
establishing a learning relationship with each customer and then connect that knowledge with
the firm's production and service capabilities to fulfill that customer's needs in as custom a
manner as possible
Mass customization ✔Correct Answer-combining flexible manufacturing with flexible
marketing to greatly enhance customer choices
Marketing (Big M) ✔Correct Answer-dimension of marketing that focuses on external forces
that affect the organization and serves as the driver of business strategy
Strategic marketing ✔Correct Answer-a long-term, firm-level commitment to investing in
marketing - supported at the highest organizational level - for the purpose of enhancing
organizational performance
Market creation ✔Correct Answer-approaches that drive the market toward fulfilling a whole
new set of needs that customers did not realize was possible or feasible before
marketing (little m) ✔Correct Answer-dimension of marketing that focuses on the functional
or operational level of the organization
tactical marketing ✔Correct Answer-Marketing activities that take place at the functional or
operational level of a firm
Marketing metrics ✔Correct Answer-designed to identify, track, evaluate, and provide key
benchmarks for improvement just as various financial metrics guide the financial management
of the firm
No Foreign Marketing ✔Correct Answer-no formal international channel relationship or global
marketing strategy targeted at international customers
Foreign Marketing ✔Correct Answer-developing local distribution and service representation
in a foreign market
, International Marketing ✔Correct Answer-when a firm makes the commitment to
manufacture products outside its domestic market (although management still takes a
"domestic first" approach to the business)
Global Marketing ✔Correct Answer-realizing that all world markets (including own domestic)
are a single market with many different segments (management sees the world as a unified
market without boundaries)
Developed economies ✔Correct Answer-Western Europe, US, and Japan fueled world
economic growth for much of 20th century
Emerging markets ✔Correct Answer-where most of the significant growth has been found
over the past 25 years; 75% of growth over the next 20 years is projected to come from a new
group of powerful economies (China, India)
Regional market zones ✔Correct Answer-a group of countries that create formal relationships
for mutual economic benefit through lower tariffs and reduced trade barriers
European Union ✔Correct Answer-one of the oldest and most successful regional market
zones
NAFTA (North American Free Trade Agreement) ✔Correct Answer-created the single largest
economic alliance and has eliminated tariffs between the member countries for more than 19
years
MERCOSUR ✔Correct Answer-the most powerful market zone in South America inaugurated
in 1995
ASEAN ✔Correct Answer-the most important Asian market zone founded in 1967
Exporting ✔Correct Answer-the most common method for entering foreign markets (10% of
all global activity) because there is minimal investment and very little risk
Exporters ✔Correct Answer-international market specialists that help companies by acting as
the export marketing department
Distributors ✔Correct Answer-represent the company and often many others in foreign
markets
Contractual Agreements ✔Correct Answer-allow a company to expand participation in a
market by creating enduring, nonequity relationships with another company, often a local
company in that market
Answers |Latest Version |Already Graded A+
Marketing Management ✔Correct Answer-leading and managing the facets of marketing to
improve individual, unit, and organizational performance
Marketing ✔Correct Answer-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 Stakeholders ✔Correct Answer-any person or entity inside or outside a firm with
whom marketing interacts, impacts, and is impacted by
Societal marketing ✔Correct Answer-members of society at large can be viewed as
stakeholders for marketing
Sustainability ✔Correct Answer-business practices that meet humanity's needs without
harming future generations
Value ✔Correct Answer-ratio of the bundle of benefits a customer receives from an offering
compared to the costs incurred by the customer in acquiring that bundle of benefits
Exchange ✔Correct Answer-a person gives up something of value to them for something else
they desire to have
Production orientation ✔Correct Answer-improving products and production efficiency
without much regard for what's going on in the marketplace
Sales orientation ✔Correct Answer-to increase sales and production capacity utilization,
professional salespeople need to "push" product into the hands of customers, both businesses,
and end users
Marketing Concept ✔Correct Answer-businesswide philosophy that emphasizes an
organization-wide customer orientation with the objective of achieving long-run profits (let the
market decide what products to offer) - from GE's 1952 Annual Report
The Marketing Mix / 4 P's of Marketing ✔Correct Answer-the fundamental elements that
comprise the marketer's toolkit that can be developed in unique combinations to set the
product or brand apart from the competition (product, price, place, promotion)
Differentiation Orientation ✔Correct Answer-what clearly distinguishes your products from
those of competitors in the minds of customers
,Market Orientation ✔Correct Answer-the implementation of the marketing concept
Customer Orientation ✔Correct Answer-placing the customer at the core of all aspects of the
enterprise
Relationship Orientation ✔Correct Answer-it is far more efficient and effective to invest in
keeping and cultivating profitable current customers instead of constantly having to invest in
gaining new customers that come with unknown return on investment
One-to-One Marketing ✔Correct Answer-firms should direct energy and resources into
establishing a learning relationship with each customer and then connect that knowledge with
the firm's production and service capabilities to fulfill that customer's needs in as custom a
manner as possible
Mass customization ✔Correct Answer-combining flexible manufacturing with flexible
marketing to greatly enhance customer choices
Marketing (Big M) ✔Correct Answer-dimension of marketing that focuses on external forces
that affect the organization and serves as the driver of business strategy
Strategic marketing ✔Correct Answer-a long-term, firm-level commitment to investing in
marketing - supported at the highest organizational level - for the purpose of enhancing
organizational performance
Market creation ✔Correct Answer-approaches that drive the market toward fulfilling a whole
new set of needs that customers did not realize was possible or feasible before
marketing (little m) ✔Correct Answer-dimension of marketing that focuses on the functional
or operational level of the organization
tactical marketing ✔Correct Answer-Marketing activities that take place at the functional or
operational level of a firm
Marketing metrics ✔Correct Answer-designed to identify, track, evaluate, and provide key
benchmarks for improvement just as various financial metrics guide the financial management
of the firm
No Foreign Marketing ✔Correct Answer-no formal international channel relationship or global
marketing strategy targeted at international customers
Foreign Marketing ✔Correct Answer-developing local distribution and service representation
in a foreign market
, International Marketing ✔Correct Answer-when a firm makes the commitment to
manufacture products outside its domestic market (although management still takes a
"domestic first" approach to the business)
Global Marketing ✔Correct Answer-realizing that all world markets (including own domestic)
are a single market with many different segments (management sees the world as a unified
market without boundaries)
Developed economies ✔Correct Answer-Western Europe, US, and Japan fueled world
economic growth for much of 20th century
Emerging markets ✔Correct Answer-where most of the significant growth has been found
over the past 25 years; 75% of growth over the next 20 years is projected to come from a new
group of powerful economies (China, India)
Regional market zones ✔Correct Answer-a group of countries that create formal relationships
for mutual economic benefit through lower tariffs and reduced trade barriers
European Union ✔Correct Answer-one of the oldest and most successful regional market
zones
NAFTA (North American Free Trade Agreement) ✔Correct Answer-created the single largest
economic alliance and has eliminated tariffs between the member countries for more than 19
years
MERCOSUR ✔Correct Answer-the most powerful market zone in South America inaugurated
in 1995
ASEAN ✔Correct Answer-the most important Asian market zone founded in 1967
Exporting ✔Correct Answer-the most common method for entering foreign markets (10% of
all global activity) because there is minimal investment and very little risk
Exporters ✔Correct Answer-international market specialists that help companies by acting as
the export marketing department
Distributors ✔Correct Answer-represent the company and often many others in foreign
markets
Contractual Agreements ✔Correct Answer-allow a company to expand participation in a
market by creating enduring, nonequity relationships with another company, often a local
company in that market
