Marketing Management TCU Exam #1
Questions and Answers 100% Pass
Marketing -
CORRECT ANSWER: The activity, set of institutions, and processes
for creating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society
Marketing includes a philosophy and a set of actions
QUESTION: Exchange -
CORRECT ANSWER: People give up something to receive something
that they would rather have
QUESTION: 5 Conditions of an Exchange -
CORRECT ANSWER: There must be at least two parties
,Each party must have something that is possibly of value to the other
Each party is capable of communication and delivery
Each party can accept / reject the other's offer
Each party believes that it is desirable / appropriate to deal with the
other party
QUESTION: 4 Philosophies of Marketing Management -
CORRECT ANSWER: production, sales, market, and societal
marketing orientations
QUESTION: Production Orientation -
,CORRECT ANSWER: Focuses on the internal capabilities of the firm
rather than the market
"What goods / services are we good at providing?
Can fall short if it does not consider if its goods / services are meeting
market demand
QUESTION: Sales Orientation -
CORRECT ANSWER: People will buy more goods / services if
aggressive sales techniques are used
High sales = high profits
What customers think they are buying defines a business
, Focusing on customer's wants / needs and integrating organization's
activities
QUESTION: Market Orientation -
CORRECT ANSWER: A sale does not depend on an aggressive sales
force but rather on a customer's decision to purchase a product
Must understand competitor's strengths and weaknesses
QUESTION: Societal Marketing Orientation -
CORRECT ANSWER: Acknowledges that some products that
customers want are not in the best interest of society as a whole
Green marketing, societal cause-based marketing, etc.
QUESTION: 5 Characteristic Differences -
CORRECT ANSWER: Organization's focus, Firm's business, The
Customer, Firm's Primary Goal, and the Tools Used
Questions and Answers 100% Pass
Marketing -
CORRECT ANSWER: The activity, set of institutions, and processes
for creating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society
Marketing includes a philosophy and a set of actions
QUESTION: Exchange -
CORRECT ANSWER: People give up something to receive something
that they would rather have
QUESTION: 5 Conditions of an Exchange -
CORRECT ANSWER: There must be at least two parties
,Each party must have something that is possibly of value to the other
Each party is capable of communication and delivery
Each party can accept / reject the other's offer
Each party believes that it is desirable / appropriate to deal with the
other party
QUESTION: 4 Philosophies of Marketing Management -
CORRECT ANSWER: production, sales, market, and societal
marketing orientations
QUESTION: Production Orientation -
,CORRECT ANSWER: Focuses on the internal capabilities of the firm
rather than the market
"What goods / services are we good at providing?
Can fall short if it does not consider if its goods / services are meeting
market demand
QUESTION: Sales Orientation -
CORRECT ANSWER: People will buy more goods / services if
aggressive sales techniques are used
High sales = high profits
What customers think they are buying defines a business
, Focusing on customer's wants / needs and integrating organization's
activities
QUESTION: Market Orientation -
CORRECT ANSWER: A sale does not depend on an aggressive sales
force but rather on a customer's decision to purchase a product
Must understand competitor's strengths and weaknesses
QUESTION: Societal Marketing Orientation -
CORRECT ANSWER: Acknowledges that some products that
customers want are not in the best interest of society as a whole
Green marketing, societal cause-based marketing, etc.
QUESTION: 5 Characteristic Differences -
CORRECT ANSWER: Organization's focus, Firm's business, The
Customer, Firm's Primary Goal, and the Tools Used
