Midterm 1 MKTG 300 CSULB question n answers graded A+ 2024/2025

Midterm 1 MKTG 300 CSULB Chapter 1 - correct answer Types of Marketing Management Orientations - correct answer Product, Sales, Market, and Societal Marketing. Product Orientation - correct answer focuses on what they can make best, instead of what the customers want. (what can we do) Sales Orientation - correct answer focuses on what the company can sell. Market Orientation - correct answer focuses on not only internal factors(production, sales) but on external factors (what the customer is looking for). societal marketing orientation - correct answer keep society interest at heart. Benefit society as a whole. Difference between relationship and transactional marketing - correct answer Relationship Marketing: focuses on keeping and improving relationships with current customers. Transactional Marketing: focuses on a single individual sale rather than building a relationship with customers. What factors drive customer value and satisfaction? - correct answer Whether a product meets the needs and expectations of the customer. Actual performance > Expectation = happy Actual performance = Expectation = satisfied Actual performance < Expectation = dissatisfied What are the factors determining the success of relationship[ marketing? Explain. - correct answer A)Customer Oriented Personnel: Employee's attitudes and actions must be customer oriented. B)The Role Of Training C)Empowerment: delegation of authority to solve customer problems on the spot D)Teamwork: collaborative efforts of people to accomplish common objective. Chapter 2 - correct answer What is a SBU (strategic business unit)? - correct answer Strategic Business Unit: An independent enterprise unit, under a company, that has its own revenue. Ansoff Matrix - correct answer "A Matrix looking at growth potential of a firms products. It classifies strategies into market penetration, new product development, market development and diversification and measures the degree of risk associated with each strategy." penetration - correct answer current product, current market New Product Development - correct answer New Product, current market New Market Development - correct answer Current product, New Market Diversification - correct answer new product, new market Boston Consulting Group (BCG) Matrix - correct answer A portfolio planning approach that examines strategic business units based on their relative market shares and growth rates. Businesses are classified as stars, cash cows, question marks (problem children), or dogs. The Star - correct answer Large market share, high market growth Cash Cow - correct answer Large market share, slow market growth Mature SBU Generates more revenue than it needs to expense