Marketing 300 CSULB Exam 1
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 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 idea 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.
Products - correct answer offering to a market for acquisition, use or consumption. Tangible
Services - correct answer benefits that are essentially intangible and don't result in the ownership of anything .
Relationship Marketing - correct answer A strategy that focuses on keeping and improving relationships with current customers. 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 value - correct answer The relationship between benefits and the sacrifice necessary to obtain those benefits.
Customer Satisfaction - correct answer Customers' evaluation of a good or service in terms of whether it has met their needs and expectations.
Empowerment - correct answer Delegation of authority to solve customers' problems quickly- usually by the first person that the customer notifies regarding a problem.
Teamwork - correct answer Collaborative efforts of people to accomplish common objectives.
Relationship Marketing - correct answer A strategy that focuses on keeping and improving relationships with current customers.
Buyer's Market - correct answer One on one marketing - Customer needs/wants/loyalty
Buyers and Society's Market - correct answer Societal Marketing Orientation
Customer Needs/Wants Society's Welfare
Implementing the Marketing Concept - correct answer 1. Top Management to endorse concept
2. Management to encourage its spread across rank and file
3. Changes in authority and responsibility necessary. Flatten hierarchy.
4. Management should be provided with front-line experience.
4 P's of Marketing - correct answer Product
Price Place
Promotion
"Marketing should be introduced at the beginning rather than the end of the production cycle and integrated into each phase of the business, " is consistent with a(n) ____________ orientation. - correct answer Market
The objective of one to one marketing is to: - correct answer build and maintain customer loyalty
Production - correct answer focuses on efficiency of internal operations
Sales - correct answer Focus on aggressive techniques for overcoming customer resistance
Market - correct answer Focuses on satisfying customer needs and wants
Societal - correct answer Focus on satisfying customer needs and wants while enhancing individuals and societal well-being
Target Market - correct answer A defined group most likely to buy a firm's product.
Environmental Management - correct answer When a company implements strategies that attempt to shape the external environment within which it operates.
Component Lifestyles - correct answer The practice of choosing goods and services that meet one's diverse needs and interests rather than conforming to a single, traditional lifestyle.
Demography - correct answer The study of people's vital statistics, such as their age, race, and ethnicity, and location.
Purchasing Power - correct answer A comparison of income versus the relative cost of a set standard of goods and services in different geographic areas.
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 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 idea 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.
Products - correct answer offering to a market for acquisition, use or consumption. Tangible
Services - correct answer benefits that are essentially intangible and don't result in the ownership of anything .
Relationship Marketing - correct answer A strategy that focuses on keeping and improving relationships with current customers. 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 value - correct answer The relationship between benefits and the sacrifice necessary to obtain those benefits.
Customer Satisfaction - correct answer Customers' evaluation of a good or service in terms of whether it has met their needs and expectations.
Empowerment - correct answer Delegation of authority to solve customers' problems quickly- usually by the first person that the customer notifies regarding a problem.
Teamwork - correct answer Collaborative efforts of people to accomplish common objectives.
Relationship Marketing - correct answer A strategy that focuses on keeping and improving relationships with current customers.
Buyer's Market - correct answer One on one marketing - Customer needs/wants/loyalty
Buyers and Society's Market - correct answer Societal Marketing Orientation
Customer Needs/Wants Society's Welfare
Implementing the Marketing Concept - correct answer 1. Top Management to endorse concept
2. Management to encourage its spread across rank and file
3. Changes in authority and responsibility necessary. Flatten hierarchy.
4. Management should be provided with front-line experience.
4 P's of Marketing - correct answer Product
Price Place
Promotion
"Marketing should be introduced at the beginning rather than the end of the production cycle and integrated into each phase of the business, " is consistent with a(n) ____________ orientation. - correct answer Market
The objective of one to one marketing is to: - correct answer build and maintain customer loyalty
Production - correct answer focuses on efficiency of internal operations
Sales - correct answer Focus on aggressive techniques for overcoming customer resistance
Market - correct answer Focuses on satisfying customer needs and wants
Societal - correct answer Focus on satisfying customer needs and wants while enhancing individuals and societal well-being
Target Market - correct answer A defined group most likely to buy a firm's product.
Environmental Management - correct answer When a company implements strategies that attempt to shape the external environment within which it operates.
Component Lifestyles - correct answer The practice of choosing goods and services that meet one's diverse needs and interests rather than conforming to a single, traditional lifestyle.
Demography - correct answer The study of people's vital statistics, such as their age, race, and ethnicity, and location.
Purchasing Power - correct answer A comparison of income versus the relative cost of a set standard of goods and services in different geographic areas.
