MARK 3321 EXAM 1 QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+
First principles of marketing Ans✓✓✓- Listen to your customer
- Change the rules
- Win with strength
- Do your duty
Fundamental values of tomorrow's markets Ans✓✓✓-Customization
- knowledge workers
- Capital Markets
Marketing definition Ans✓✓✓*Exchnaging values*
is 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.
or
Exchanging values that have value to the customer
Conditions for exchange Ans✓✓✓-At least two parties must be
involved.
- Something of value must be present.
- Parties are capable of communication and delivery
- Desire to deal with the other party exists.
- Each party is free to accept or reject the offer.
, Marketing concept Ans✓✓✓
Organization's focus under a sales orientation Ans✓✓✓- Based on what
the market wants
- Believes marketing is selling things and collecting moneyF
Organization's focus under a marketing orientation Ans✓✓✓-
Implementing action to provide value to customers
-Determine how to deliver superior customer value
-Obtaining information about customers, competitors, and markets
Customer satisfaction Ans✓✓✓Customers' evaluation of a good or
service in terms of whether that good or service has met their needs and
expectations
Relationship management Ans✓✓✓Company-wide business strategy
designed to optimize profitability, revenue, and customer satisfaction
Strategic planning Ans✓✓✓the managerial process of creating and
maintaining a fit between the organization's objectives and resources and
the evolving market opportunities
1.) What is the organization's main activity at a particular time?
2.)How will it reach its goals?
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+
First principles of marketing Ans✓✓✓- Listen to your customer
- Change the rules
- Win with strength
- Do your duty
Fundamental values of tomorrow's markets Ans✓✓✓-Customization
- knowledge workers
- Capital Markets
Marketing definition Ans✓✓✓*Exchnaging values*
is 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.
or
Exchanging values that have value to the customer
Conditions for exchange Ans✓✓✓-At least two parties must be
involved.
- Something of value must be present.
- Parties are capable of communication and delivery
- Desire to deal with the other party exists.
- Each party is free to accept or reject the offer.
, Marketing concept Ans✓✓✓
Organization's focus under a sales orientation Ans✓✓✓- Based on what
the market wants
- Believes marketing is selling things and collecting moneyF
Organization's focus under a marketing orientation Ans✓✓✓-
Implementing action to provide value to customers
-Determine how to deliver superior customer value
-Obtaining information about customers, competitors, and markets
Customer satisfaction Ans✓✓✓Customers' evaluation of a good or
service in terms of whether that good or service has met their needs and
expectations
Relationship management Ans✓✓✓Company-wide business strategy
designed to optimize profitability, revenue, and customer satisfaction
Strategic planning Ans✓✓✓the managerial process of creating and
maintaining a fit between the organization's objectives and resources and
the evolving market opportunities
1.) What is the organization's main activity at a particular time?
2.)How will it reach its goals?
