CSUF MKTG 351 Exam 1 2023 with 100% correct answers

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 exchange - correct answer -people giving up something in order to receive something they would rather have production orientation - correct answer -a philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace sales orientation - correct answer -the ideas that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits marketing concept - correct answer -the idea that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives market orientation - correct answer -a philosophy that assumes that a sale does not depend on an aggressive sales force but rather on a customer's decision to purchase a product; it is synonymous with the marketing concept societal marketing orientation - correct answer -the idea that an organization exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals' and society's long-term best interests customer satisfaction - correct answer -customers' evaluation of a good or service in terms of whether it has met their needs and expectations customer value - correct answer -the relationship between benefits and the sacrifice necessary to obtain those ben