MBA 706 Module 1 - Karen James
Correct 100%
Four Marketing Activities - ANSWER 1. Creating
2. Communicating
3. Delivering
4. Exchanging
Market - ANSWER Collection of buyers and sellers, in which a group of individuals
(consumers) or institutions (business, government, non-profits) share a need that can
be satisfied by an offering
Production Orientation - ANSWER MKT focus on cutting costs, and that good products
sell themselves
Value Era - ANSWER MKT focus on providing value for customers
Social Marketing - ANSWER Marketing conducted to achieve a certain social objective.
Used by government agencies, nonprofit organizations, and religious organizations
4 P's of Marketing Mix - ANSWER Product, Price, Place, Promotion
Value - ANSWER Benefits buyers receive that meet their needs
Personal Value Equation - ANSWER value = benefits received - [price + hassle]
Product Orientation - ANSWER MKT focus on product innovation
Selling Orientation - ANSWER MKT focus on pushing products by emphasizing
advertising and selling
Blue Ocean Strategy - ANSWER Business-level strategy that successfully combines
differentiation and cost-leadership activities using value innovation to reconcile the
inherent trade-offs.
Correct 100%
Four Marketing Activities - ANSWER 1. Creating
2. Communicating
3. Delivering
4. Exchanging
Market - ANSWER Collection of buyers and sellers, in which a group of individuals
(consumers) or institutions (business, government, non-profits) share a need that can
be satisfied by an offering
Production Orientation - ANSWER MKT focus on cutting costs, and that good products
sell themselves
Value Era - ANSWER MKT focus on providing value for customers
Social Marketing - ANSWER Marketing conducted to achieve a certain social objective.
Used by government agencies, nonprofit organizations, and religious organizations
4 P's of Marketing Mix - ANSWER Product, Price, Place, Promotion
Value - ANSWER Benefits buyers receive that meet their needs
Personal Value Equation - ANSWER value = benefits received - [price + hassle]
Product Orientation - ANSWER MKT focus on product innovation
Selling Orientation - ANSWER MKT focus on pushing products by emphasizing
advertising and selling
Blue Ocean Strategy - ANSWER Business-level strategy that successfully combines
differentiation and cost-leadership activities using value innovation to reconcile the
inherent trade-offs.
