MKT 3401 Module 1 Questions with Correct Answers (Grade A+)
Question 1: module essays
Answer: module essays
Question 2: what is the concept of marketing? (3)
Answer: -is being able to satisfy the customers' needs and wants -and give them something better than the
competition -and achieving long term goals for the organization by satisfying customer wants and needs
legally and responsibly
Question 3: a key goal of marketing is offering an exchange. what are the several conditions for an
exchange to occur? (5) Note: exchange will not necissarly take place if these conditions exist, but they
must exist for exchange to be possible
Answer: 1. there needs to be at least two parties 2. each party has something of value that the other party
might want. 3. each party needs to be capable of communicating what they want and delivering the product
or service. 4. The persuasive nature of marketing comes into play, where each party is able to accept or
reject the exchange offer. 5. to show the importance of relationships, each party desires to deal with the
other person.
Question 5: When analyzing how a company might operate, it is important to consider what type of
____________ It helps the company to understand more clearly their focus and how to accomplish its
goals.
Answer: marketing management philosophy
Question 6: what are the 4 marketing management philosophies?
Answer: production orientation sales orientation marketing orientation societal orientation
Question 7: which marketing management philosophy is this? This occurs when a company looks
inward at what it does best and then produces that product. The company is very good at what it is able
to produce, the quality of the production, and the efficiency of the production. The company is usually
focused on large volume and efficiency of production.
Answer: production orientation what a company does best without considering whether there is a market
Page 1
,Question 8: this is an example of? fast-food restaurants focus on making large quantities every day at a
low cost. If involved in this type of restaurant business, the company is more concerned with quantity
and how it can save money while selling high volumes of products. It strives to have a good product but
not a premium product.
Answer: production orientation there is, however, a possible mistake often made in the production
orientation. In an effort to maximize production and efficiency, the company may not have considered the
market for its product(s).
Question 9: which marketing management philosophy is this? This occurs when a company is not
concerned about how the product is created; rather, its focus lies in assembling a skilled and highly
trained sales force whose job it is to move these products.
Answer: sales orientation whatever an organization puts together a very skilled sales force and their job is
simply to move products-- they sell.
Question 10: In a sales orientation, Once the sales force is established, the company
_______________________ the sales force.
Answer: seeks new products and services to supply
Question 11: Personal selling is a critical and valuable part of many businesses that adopt what
philosophy?
Answer: sales orientation
Question 12: Why are sales representative's personal brand critical to the brand of sales orientation
companies?
Answer: because sales orientation reminds the company that personal selling is ongoing and critical to the
overall brand of a company.
Question 13: What are examples of sales orientation (companies that rely heavily on skilled sales or
customer service representatives) ? (5)
Answer: financial services insurance companies, cosmetic home improvement companies,
telecommunication companies.
Question 14: which marketing management philosophy is this? This occurs when the company gives
customers what they want and does it better than the competition. This strategy focuses on the
customer and satisfying the customer's needs and wants.
Answer: marketing orientation
Page 2
, Question 15: What companies are examples of marketing orientation and why?
Answer: Coca-Cola - iconic brand The Wall street Journal - premier newspaper LSU football - successful
program Amazon - one of most powerful companies because the marketing strategy focuses on the
customer and satisfying the customer's needs and wants and giving them something they will continue to
use
Question 16: What 4 concepts do marketing orientation companies understand? (Coca-Cola, The Wall
Street Journal, LSU Football, Amazon)
Answer: (a) how to create products or services that appeal to certain target markets; (b) how to make
strategic changes and adapt as times change; (c) how to respond to competition they never expected; and,
finally (d) how to consistently take care of the customer.
Question 17: which marketing management philosophy is this? This occurs when a company adopts a
marketing orientation and they also want to be seen as genuinely good public citizens who protect the
environment. By embracing and supporting this philosophy, companies can build goodwill with
communities and society while also achieving their business goals.
Answer: social orientation is basically the marketing orientation, satisfying the customers' needs and wants
and giving them something they want, but doing it while keeping our society safe by being good to the
environment, and while being good to others.
Question 18: Investing in a societal orientation has been a part of businesses for almost a _________.
and is included in the marketing strategy of many companies.
Answer: century
Question 19: this is an example of? companies that are using plastic bottles or straws are now
reconsidering how this might be harmful to the environment and how they might have to adjust their
strategy for using these products.
Answer: Investing in societal orientation it has reached such an important level that companies might be
harming their brand and their relationship with customers if they are not involved in some form of a societal
orientation.
Question 20: has an over-arching impact on each of these philosophies. Corporate leadership must be
aware of the impact CSR has on its company, its, brand, its reputation, its customers, and society
overall.
Answer: Corporate Social Responsibility (CSR)
Question 21: is a managerial process whose main objective is the long term success and profitability of a
company.
Answer: strategic planning
Page 3
Question 1: module essays
Answer: module essays
Question 2: what is the concept of marketing? (3)
Answer: -is being able to satisfy the customers' needs and wants -and give them something better than the
competition -and achieving long term goals for the organization by satisfying customer wants and needs
legally and responsibly
Question 3: a key goal of marketing is offering an exchange. what are the several conditions for an
exchange to occur? (5) Note: exchange will not necissarly take place if these conditions exist, but they
must exist for exchange to be possible
Answer: 1. there needs to be at least two parties 2. each party has something of value that the other party
might want. 3. each party needs to be capable of communicating what they want and delivering the product
or service. 4. The persuasive nature of marketing comes into play, where each party is able to accept or
reject the exchange offer. 5. to show the importance of relationships, each party desires to deal with the
other person.
Question 5: When analyzing how a company might operate, it is important to consider what type of
____________ It helps the company to understand more clearly their focus and how to accomplish its
goals.
Answer: marketing management philosophy
Question 6: what are the 4 marketing management philosophies?
Answer: production orientation sales orientation marketing orientation societal orientation
Question 7: which marketing management philosophy is this? This occurs when a company looks
inward at what it does best and then produces that product. The company is very good at what it is able
to produce, the quality of the production, and the efficiency of the production. The company is usually
focused on large volume and efficiency of production.
Answer: production orientation what a company does best without considering whether there is a market
Page 1
,Question 8: this is an example of? fast-food restaurants focus on making large quantities every day at a
low cost. If involved in this type of restaurant business, the company is more concerned with quantity
and how it can save money while selling high volumes of products. It strives to have a good product but
not a premium product.
Answer: production orientation there is, however, a possible mistake often made in the production
orientation. In an effort to maximize production and efficiency, the company may not have considered the
market for its product(s).
Question 9: which marketing management philosophy is this? This occurs when a company is not
concerned about how the product is created; rather, its focus lies in assembling a skilled and highly
trained sales force whose job it is to move these products.
Answer: sales orientation whatever an organization puts together a very skilled sales force and their job is
simply to move products-- they sell.
Question 10: In a sales orientation, Once the sales force is established, the company
_______________________ the sales force.
Answer: seeks new products and services to supply
Question 11: Personal selling is a critical and valuable part of many businesses that adopt what
philosophy?
Answer: sales orientation
Question 12: Why are sales representative's personal brand critical to the brand of sales orientation
companies?
Answer: because sales orientation reminds the company that personal selling is ongoing and critical to the
overall brand of a company.
Question 13: What are examples of sales orientation (companies that rely heavily on skilled sales or
customer service representatives) ? (5)
Answer: financial services insurance companies, cosmetic home improvement companies,
telecommunication companies.
Question 14: which marketing management philosophy is this? This occurs when the company gives
customers what they want and does it better than the competition. This strategy focuses on the
customer and satisfying the customer's needs and wants.
Answer: marketing orientation
Page 2
, Question 15: What companies are examples of marketing orientation and why?
Answer: Coca-Cola - iconic brand The Wall street Journal - premier newspaper LSU football - successful
program Amazon - one of most powerful companies because the marketing strategy focuses on the
customer and satisfying the customer's needs and wants and giving them something they will continue to
use
Question 16: What 4 concepts do marketing orientation companies understand? (Coca-Cola, The Wall
Street Journal, LSU Football, Amazon)
Answer: (a) how to create products or services that appeal to certain target markets; (b) how to make
strategic changes and adapt as times change; (c) how to respond to competition they never expected; and,
finally (d) how to consistently take care of the customer.
Question 17: which marketing management philosophy is this? This occurs when a company adopts a
marketing orientation and they also want to be seen as genuinely good public citizens who protect the
environment. By embracing and supporting this philosophy, companies can build goodwill with
communities and society while also achieving their business goals.
Answer: social orientation is basically the marketing orientation, satisfying the customers' needs and wants
and giving them something they want, but doing it while keeping our society safe by being good to the
environment, and while being good to others.
Question 18: Investing in a societal orientation has been a part of businesses for almost a _________.
and is included in the marketing strategy of many companies.
Answer: century
Question 19: this is an example of? companies that are using plastic bottles or straws are now
reconsidering how this might be harmful to the environment and how they might have to adjust their
strategy for using these products.
Answer: Investing in societal orientation it has reached such an important level that companies might be
harming their brand and their relationship with customers if they are not involved in some form of a societal
orientation.
Question 20: has an over-arching impact on each of these philosophies. Corporate leadership must be
aware of the impact CSR has on its company, its, brand, its reputation, its customers, and society
overall.
Answer: Corporate Social Responsibility (CSR)
Question 21: is a managerial process whose main objective is the long term success and profitability of a
company.
Answer: strategic planning
Page 3
