UTA 3321 MARKETING COMPREHENSIVE
TEST BANK FULLY SOLVED QUESTIONS
AND SOLUTIONS
●● Exchange
Answer: people giving up something in order to receive something else
they would rather have
●● Exchange Conditions
Answer: 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
Answer: 1. Production Orientation
2. Sales Orientation
3. Market Orientation
4. Societal Marketing Orientation
, ●● Product Orientation (Philosophy)
Answer: 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)
Answer: 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)
Answer: 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)
Answer: 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
Answer: the relationship between benefits and the sacrifice necessary to
obtain those benefits
●● Relationship Marketing
TEST BANK FULLY SOLVED QUESTIONS
AND SOLUTIONS
●● Exchange
Answer: people giving up something in order to receive something else
they would rather have
●● Exchange Conditions
Answer: 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
Answer: 1. Production Orientation
2. Sales Orientation
3. Market Orientation
4. Societal Marketing Orientation
, ●● Product Orientation (Philosophy)
Answer: 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)
Answer: 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)
Answer: 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)
Answer: 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
Answer: the relationship between benefits and the sacrifice necessary to
obtain those benefits
●● Relationship Marketing
