CSUF MKTG 351 Exam 1 Kim Questions with Correct Answers
(Grade A+)
Question 1: marketing
Answer: 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
Question 2: exchange
Answer: people giving up something in order to receive something they would rather have
Question 3: production orientation
Answer: a philosophy that focuses on the internal capabilities of the firm rather than on the desires and
needs of the marketplace
Question 4: sales orientation
Answer: the ideas that people will buy more goods and services if aggressive sales techniques are used and
that high sales result in high profits
Question 5: marketing concept
Answer: the idea that the social and economic justification for an organization's existence is the satisfaction
of customer wants and needs while meeting organizational objectives
Question 6: market orientation
Answer: a philosophy that assumes that a sale does not depend on an aggressive sales force but rather on a
customer's decision to purchase a product; it is synonymous with the marketing concept
Question 7: societal marketing orientation
Answer: the idea that an organization exists not only to satisfy customer wants and needs and to meet
organizational objectives but also to preserve or enhance individuals' and society's long-term best interests
Question 8: customer satisfaction
Answer: customers' evaluation of a good or service in terms of whether it has met their needs and
expectations
Question 9: customer value
Answer: the relationship between benefits and the sacrifice necessary to obtain those benefits
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, Question 10: relationship marketing
Answer: a strategy that focuses on keeping and improving relationships with current customers
Question 11: empowerment
Answer: delegation of authority to solve customers' problems quickly?usually by the first person the
customer notifies regarding a problem
Question 12: customer relationship management (CRM)
Answer: a companywide business strategy designed to optimize profitability, revenue, and customer
satisfaction by focusing on highly defined and precise customer groups
Question 13: on-demand marketing
Answer: on-demand marketing delivers relevant experiences throughout the consumer's decision and
buying process that integrated across both physical and virtual enviornemtns
Question 14: strategic planning
Answer: the managerial process of creating and maintaining a fit between the organization's objectives and
resources and the evolving market opportunities
Question 15: strategic business unit (SBU)
Answer: a subgroup of a single business or collection of related businesses within the larger organization
Question 16: Ansoff's Opportunity matrix
Answer: matches products and markets
Question 17: market penetration (Ansoff's Opportunity matrix)
Answer: a marketing strategy that tries to increase market share among existing customers
Question 18: market development (Ansoff's Opportunity matrix)
Answer: a marketing strategy that entails attracting new customers to existing products
Question 19: product development (Ansoff's Opportunity matrix)
Answer: a marketing strategy that entails the creation of new products for present markets
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(Grade A+)
Question 1: marketing
Answer: 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
Question 2: exchange
Answer: people giving up something in order to receive something they would rather have
Question 3: production orientation
Answer: a philosophy that focuses on the internal capabilities of the firm rather than on the desires and
needs of the marketplace
Question 4: sales orientation
Answer: the ideas that people will buy more goods and services if aggressive sales techniques are used and
that high sales result in high profits
Question 5: marketing concept
Answer: the idea that the social and economic justification for an organization's existence is the satisfaction
of customer wants and needs while meeting organizational objectives
Question 6: market orientation
Answer: a philosophy that assumes that a sale does not depend on an aggressive sales force but rather on a
customer's decision to purchase a product; it is synonymous with the marketing concept
Question 7: societal marketing orientation
Answer: the idea that an organization exists not only to satisfy customer wants and needs and to meet
organizational objectives but also to preserve or enhance individuals' and society's long-term best interests
Question 8: customer satisfaction
Answer: customers' evaluation of a good or service in terms of whether it has met their needs and
expectations
Question 9: customer value
Answer: the relationship between benefits and the sacrifice necessary to obtain those benefits
Page 1
, Question 10: relationship marketing
Answer: a strategy that focuses on keeping and improving relationships with current customers
Question 11: empowerment
Answer: delegation of authority to solve customers' problems quickly?usually by the first person the
customer notifies regarding a problem
Question 12: customer relationship management (CRM)
Answer: a companywide business strategy designed to optimize profitability, revenue, and customer
satisfaction by focusing on highly defined and precise customer groups
Question 13: on-demand marketing
Answer: on-demand marketing delivers relevant experiences throughout the consumer's decision and
buying process that integrated across both physical and virtual enviornemtns
Question 14: strategic planning
Answer: the managerial process of creating and maintaining a fit between the organization's objectives and
resources and the evolving market opportunities
Question 15: strategic business unit (SBU)
Answer: a subgroup of a single business or collection of related businesses within the larger organization
Question 16: Ansoff's Opportunity matrix
Answer: matches products and markets
Question 17: market penetration (Ansoff's Opportunity matrix)
Answer: a marketing strategy that tries to increase market share among existing customers
Question 18: market development (Ansoff's Opportunity matrix)
Answer: a marketing strategy that entails attracting new customers to existing products
Question 19: product development (Ansoff's Opportunity matrix)
Answer: a marketing strategy that entails the creation of new products for present markets
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