UTA MARK-3321 EXAM 1 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY
GRADED A+
Marketing Ans✓✓✓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 Ans✓✓✓people giving up something in order to receive
something else they would rather have
Exchange Conditions Ans✓✓✓1. There must be at least two parties.
2. Each party has something that might be of value to the other party.
3. Each party is capable of communication and delivery.
4. Each party is free to accept or reject the exchange offer.
5. Each party believes it is appropriate or desirable to deal with the other
party.
4 Marketing Management Philosophies Ans✓✓✓1. Production
Orientation
2. Sales Orientation
3. Market Orientation
4. Societal Marketing Orientation
Product Orientation (Philosophy) Ans✓✓✓a philosophy that focuses
on the internal capabilities of the firm rather than on the desires and
needs of the market place
, Sales Orientation (Philosophy) Ans✓✓✓the 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 (Philosophy) Ans✓✓✓a philosophy that assumes
that a sale does not depend on aggressive sales forces but rather on a
customers decision to purchase the product
Social Marketing Orientation (Philosophy) Ans✓✓✓the idea that an
organization exists not only to satisfy customer wants and needs and to
meet an organizations objectives but to also preserve or enhance
individuals and society's long-term best interests
Customer Value Ans✓✓✓the relationship between benefits and the
sacrifice necessary to obtain those benefits
Relationship Marketing Ans✓✓✓a strategy that focuses on keeping
and improving relationships with current customers
Customer Relationship Management (CRM) Ans✓✓✓a company-wide
business strategy designed to optimize profitability, revenue, and
customer satisfaction by focusing on highly defined and precise
customer groups
Understanding the importance of strategic planning Ans✓✓✓is the
basis for all marketing strategies and decisions. These decisions affect
DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY
GRADED A+
Marketing Ans✓✓✓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 Ans✓✓✓people giving up something in order to receive
something else they would rather have
Exchange Conditions Ans✓✓✓1. There must be at least two parties.
2. Each party has something that might be of value to the other party.
3. Each party is capable of communication and delivery.
4. Each party is free to accept or reject the exchange offer.
5. Each party believes it is appropriate or desirable to deal with the other
party.
4 Marketing Management Philosophies Ans✓✓✓1. Production
Orientation
2. Sales Orientation
3. Market Orientation
4. Societal Marketing Orientation
Product Orientation (Philosophy) Ans✓✓✓a philosophy that focuses
on the internal capabilities of the firm rather than on the desires and
needs of the market place
, Sales Orientation (Philosophy) Ans✓✓✓the 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 (Philosophy) Ans✓✓✓a philosophy that assumes
that a sale does not depend on aggressive sales forces but rather on a
customers decision to purchase the product
Social Marketing Orientation (Philosophy) Ans✓✓✓the idea that an
organization exists not only to satisfy customer wants and needs and to
meet an organizations objectives but to also preserve or enhance
individuals and society's long-term best interests
Customer Value Ans✓✓✓the relationship between benefits and the
sacrifice necessary to obtain those benefits
Relationship Marketing Ans✓✓✓a strategy that focuses on keeping
and improving relationships with current customers
Customer Relationship Management (CRM) Ans✓✓✓a company-wide
business strategy designed to optimize profitability, revenue, and
customer satisfaction by focusing on highly defined and precise
customer groups
Understanding the importance of strategic planning Ans✓✓✓is the
basis for all marketing strategies and decisions. These decisions affect
