MAR3023 DR. BISWAS USF EXAM 1 STUDY GUIDE QUESTIONS
AND ANSWERS
Marketing - CORRECT ANSWER✅✅set of activities and processes for:
1. creating something of value 2. communicating
3. delivering
4. exchanges
Exchange - CORRECT ANSWER✅✅2+ parties, all parties have to have something of value for other party
Production Orientation - CORRECT ANSWER✅✅focus on what you are good at and make it. "if you build
it you will sell it" downside is market doesnt always need it
Sales Orientation - CORRECT ANSWER✅✅convince people they need your product that already exists
Ex: used car sales men
Market Orientation - CORRECT ANSWER✅✅Focus on what the market wants and make that
Societal Orientation - CORRECT ANSWER✅✅Focuses on what society needs
Ex: starbucks only buying coffee from ethical sources
Strategic Marketing Management - CORRECT ANSWER✅✅Managerial process that maintains a fit
between goals, resources, and evolving market opportunities
Controllable Variables - CORRECT ANSWER✅✅product, price, promotion, place
Uncontrollable Variables - CORRECT ANSWER✅✅technology/competition, laws, customer preferences,
trends, geographical conditions, economic factors
SWOT Analysis - CORRECT ANSWER✅✅strengths, weaknesses, opportunities, threats
AND ANSWERS
Marketing - CORRECT ANSWER✅✅set of activities and processes for:
1. creating something of value 2. communicating
3. delivering
4. exchanges
Exchange - CORRECT ANSWER✅✅2+ parties, all parties have to have something of value for other party
Production Orientation - CORRECT ANSWER✅✅focus on what you are good at and make it. "if you build
it you will sell it" downside is market doesnt always need it
Sales Orientation - CORRECT ANSWER✅✅convince people they need your product that already exists
Ex: used car sales men
Market Orientation - CORRECT ANSWER✅✅Focus on what the market wants and make that
Societal Orientation - CORRECT ANSWER✅✅Focuses on what society needs
Ex: starbucks only buying coffee from ethical sources
Strategic Marketing Management - CORRECT ANSWER✅✅Managerial process that maintains a fit
between goals, resources, and evolving market opportunities
Controllable Variables - CORRECT ANSWER✅✅product, price, promotion, place
Uncontrollable Variables - CORRECT ANSWER✅✅technology/competition, laws, customer preferences,
trends, geographical conditions, economic factors
SWOT Analysis - CORRECT ANSWER✅✅strengths, weaknesses, opportunities, threats
