MKT 3401 Midterm - Ledet LSU latest
update 2024
production orientation - ANSWERSorientation focused on the internal capabilities of an
organization as opposed to the desires of the marketplace
Sales Orientation - ANSWERSthe belief that people will buy more goods and services if
aggressive sales techniques are used and that high sales result in high profits
Market Orientation - ANSWERSthe idea that a sale does not depend on an aggressive
sales force but rather on a customer's decision to purchase a product
societal marketing orientation - ANSWERSthe 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
Marketing - ANSWERSthe activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and society at large
an exchange - ANSWERSpeople giving up something in return for something else
Customer Value - ANSWERSthe relationship between benefits and the sacrifice
necessary to obtain those benefits
Four P's - ANSWERSProduct, Price, Place, Promotion
product - ANSWERSthe thing being sold, its packaging, warranty, after sale service,
brand name, company image, value, and many other factors. Can be tangible or
intangible
place - ANSWERSdistribution strategies are the way we make products available to
individuals when and where they want them
promotion - ANSWERSadvertising, personal selling, sales promotion, public relations.
Promos role in the mix is to bring out satisfying exchanges.
price - ANSWERSwhat a buyer has to give up in order to receive a product
Elements of a Marketing Plan - ANSWERSimplementation, evaluation and control,
Post-Audit Tasks.
update 2024
production orientation - ANSWERSorientation focused on the internal capabilities of an
organization as opposed to the desires of the marketplace
Sales Orientation - ANSWERSthe belief that people will buy more goods and services if
aggressive sales techniques are used and that high sales result in high profits
Market Orientation - ANSWERSthe idea that a sale does not depend on an aggressive
sales force but rather on a customer's decision to purchase a product
societal marketing orientation - ANSWERSthe 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
Marketing - ANSWERSthe activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and society at large
an exchange - ANSWERSpeople giving up something in return for something else
Customer Value - ANSWERSthe relationship between benefits and the sacrifice
necessary to obtain those benefits
Four P's - ANSWERSProduct, Price, Place, Promotion
product - ANSWERSthe thing being sold, its packaging, warranty, after sale service,
brand name, company image, value, and many other factors. Can be tangible or
intangible
place - ANSWERSdistribution strategies are the way we make products available to
individuals when and where they want them
promotion - ANSWERSadvertising, personal selling, sales promotion, public relations.
Promos role in the mix is to bring out satisfying exchanges.
price - ANSWERSwhat a buyer has to give up in order to receive a product
Elements of a Marketing Plan - ANSWERSimplementation, evaluation and control,
Post-Audit Tasks.
