COB 300D ATAV EXAM 1 WITH CORRECT ANSWERS

COB 300D ATAV EXAM 1 WITH
CORRECT ANSWERS


marketing - CORRECT ANSWER- k k k


the process of creating, distributing, promoting, and pricing good
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s, services, and ideas to facilitate satisfying exchange relationshi
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ps with customers and to develop and maintain favorable relation
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ships with stakeholders in a dynamic environment.
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customers - CORRECT ANSWER- k k k


The purchasers of organizations' products; the focal point of all m
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arketing activities k




target market - CORRECT ANSWER-
k k k k


A specific group of customers on whom an organization focuses it
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s marketing efforts
k k




marketing mix - CORRECT ANSWER- k k k k


Four marketing activities—
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product, distribution, promotion, and pricing—
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that a firm can control to meet the needs of customers within its ta
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rget market k




product - CORRECT ANSWER-A good, a service, or an idea
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value - CORRECT ANSWER- k k k


A customer's subjective assessment of benefits relative to costs i
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n determining the worth of a product
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benefits-costs=

marketing environment - CORRECT ANSWER- k k k k


The competitive, economic, political, legal and regulatory, techno
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, logical, and sociocultural forces that surround the customer and a
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ffect the marketing mix
k k k




marketing concept - CORRECT ANSWER- k k k k


A managerial philosophy that an organization should try to satisfy
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customers' needs through a coordinated set of activities that also
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allows the organization to achieve its goals
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market orientation - CORRECT ANSWER-An organization-
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wide commitment to researching and responding to customer ne
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eds

-production orientation k


-sales orientation k


-the market orientation
k k




Customer Relationship Management (CRM) - k k k k


CORRECT ANSWER-
k k


Using information about customers to create marketing strategie
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s that develop and sustain desirable customer relationships
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At the most basic level, profits can be obtained through relationsh
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ips in the following ways: - CORRECT ANSWER-
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by acquiring new customers,
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by enhancing the profitability of existing customers, and
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by extending the duration of customer relationships.
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relationship marketing - CORRECT ANSWER-Establishing long-
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term, mutually satisfying buyer-seller relationships
k k k k




Strategic Planning - CORRECT ANSWER- k k k k


The process of establishing an organizational mission and formul
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ating goals, a corporate strategy, marketing objectives, and a mar
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keting strategy k