AMA Exam Ch.1-7 Questions & Answers 2023/2024
AMA Exam Ch.1-7 Questions & Answers 2023/2024 Marketing Management - ANSWER-leading and managing the facets of marketing to improve individual, unit, and organizational performance Marketing - 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 - ANSWER-any person or entity inside or outside a firm with whom marketing interacts, impacts, and is impacted by Societal marketing - ANSWER-members of society at large can be viewed as stakeholders for marketing Sustainability - ANSWER-business practices that meet humanity's needs without harming future generations Value - 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 - ANSWER-a person gives up something of value to them for something else they desire to have Production orientation - ANSWER-improving products and production efficiency without much regard for what's going on in the marketplace Sales orientation - ANSWER-to increase sales and production capacity utilization, professional salespeople need to "push" product into the hands of customers, both businesses, and end users
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