UGA MARK 3000 TEST 1 with verified
answers already passed
marketing - correct answer ✔✔an organizational function and a set of processes
for creating, capturing, communicating, and delivering value to customers and for
managing customer relationships in ways that benefit the organization and its
stakeholders
What is the goal of marketing? - correct answer ✔✔anticipating and determining
the needs/wants of consumers and satisfying those needs through the 4Ps to
create long term exchanges of value
marketing plan - correct answer ✔✔a written doc composed of an analysis of the
current marketing situation, opportunities and threats for the firm, marketing
objectives and strategy specified in terms of the four P's, action programs, and
projected or pro forma income (and other financial) statements
exchange - correct answer ✔✔the trade of things of value between the buyer and
the seller so that each is better off as a result
marketing mix (4 P's) - correct answer ✔✔Product, Price, Place, and Promotion
-the controllable set of activities that a firm uses to respond to the wants of its
target market
marketing mix (4 P's): product - correct answer ✔✔creating value
,created through a variety of offerings, including goods, services, and ideas, to
satisfy customer needs.
marketing mix (4 P's): price - correct answer ✔✔capturing value
made up of everything a buyer gives up (money, time, energy) in exchange for the
product.
must be amount customer willing to pay and which gives a profit
marketing mix (4 P's): place - correct answer ✔✔delivering the value proposition
all activities needed to get the product to the right customer when the customer
wants it
supply chain management
marketing mix (4 P's): promotion - correct answer ✔✔communicating value;
communication that informs, persuades, and reminds potential buyers about a
product or service
ideas - correct answer ✔✔intellectual concepts- thoughts, opinions, and
philosophies
,supply chain management - correct answer ✔✔the set of approaches and
techniques that firms employ to efficiently and effectively integrate their
suppliers, manufacturers, warehouses, stores, and other firms involved in the
transacting into a seamless value chain in which merchandise is produced and
distributed in the right quantities, to the right locations, and at the right time
while minimizing system wide costs and satisfying the service levels required by
customers.
business-to-consumer marketing (B2C) - correct answer ✔✔process in which
businesses sell to consumers
business-to-business marketing (B2B) - correct answer ✔✔process of buying and
selling goods or services to be used in the production of other goods and services,
for consumption by the buying organization, or for resale by wholesalers and
retailers
consumer-to-consumer marketing (C2C) - correct answer ✔✔process in which
consumers sell to other consumers
value - correct answer ✔✔reflects the relationship of benefits to costs, or what
the consumer gets for what he or she gives
it is created through the marketing mix (4 Ps)
value cocreation - correct answer ✔✔customers act as collaborators with a
manufacturer or retailer to create the product or service
, Corporate Orientation: Production - correct answer ✔✔What does the firm do
best?
Focus on internal capability and technology
Corporate Orientation: Sales - correct answer ✔✔How can we sell more of what
we have?
Focus on sales techniques
Corporate Orientation - Value-based Marketing - correct answer ✔✔What does
the customer want?
Satisfy consumer needs/wants while meeting organizational objective
societal marketing orientation - correct answer ✔✔focus on enhancing benefits to
society- how do i meet customers needs and benefit society?
the marketing concept - correct answer ✔✔make what you can sell rather than
selling what you can make
production oriented era - correct answer ✔✔"a good product will sell itself"
prior to 1920's
sales oriented era - correct answer ✔✔1920-1950- consumers buy less and make
mores themselves- great depression WWII
answers already passed
marketing - correct answer ✔✔an organizational function and a set of processes
for creating, capturing, communicating, and delivering value to customers and for
managing customer relationships in ways that benefit the organization and its
stakeholders
What is the goal of marketing? - correct answer ✔✔anticipating and determining
the needs/wants of consumers and satisfying those needs through the 4Ps to
create long term exchanges of value
marketing plan - correct answer ✔✔a written doc composed of an analysis of the
current marketing situation, opportunities and threats for the firm, marketing
objectives and strategy specified in terms of the four P's, action programs, and
projected or pro forma income (and other financial) statements
exchange - correct answer ✔✔the trade of things of value between the buyer and
the seller so that each is better off as a result
marketing mix (4 P's) - correct answer ✔✔Product, Price, Place, and Promotion
-the controllable set of activities that a firm uses to respond to the wants of its
target market
marketing mix (4 P's): product - correct answer ✔✔creating value
,created through a variety of offerings, including goods, services, and ideas, to
satisfy customer needs.
marketing mix (4 P's): price - correct answer ✔✔capturing value
made up of everything a buyer gives up (money, time, energy) in exchange for the
product.
must be amount customer willing to pay and which gives a profit
marketing mix (4 P's): place - correct answer ✔✔delivering the value proposition
all activities needed to get the product to the right customer when the customer
wants it
supply chain management
marketing mix (4 P's): promotion - correct answer ✔✔communicating value;
communication that informs, persuades, and reminds potential buyers about a
product or service
ideas - correct answer ✔✔intellectual concepts- thoughts, opinions, and
philosophies
,supply chain management - correct answer ✔✔the set of approaches and
techniques that firms employ to efficiently and effectively integrate their
suppliers, manufacturers, warehouses, stores, and other firms involved in the
transacting into a seamless value chain in which merchandise is produced and
distributed in the right quantities, to the right locations, and at the right time
while minimizing system wide costs and satisfying the service levels required by
customers.
business-to-consumer marketing (B2C) - correct answer ✔✔process in which
businesses sell to consumers
business-to-business marketing (B2B) - correct answer ✔✔process of buying and
selling goods or services to be used in the production of other goods and services,
for consumption by the buying organization, or for resale by wholesalers and
retailers
consumer-to-consumer marketing (C2C) - correct answer ✔✔process in which
consumers sell to other consumers
value - correct answer ✔✔reflects the relationship of benefits to costs, or what
the consumer gets for what he or she gives
it is created through the marketing mix (4 Ps)
value cocreation - correct answer ✔✔customers act as collaborators with a
manufacturer or retailer to create the product or service
, Corporate Orientation: Production - correct answer ✔✔What does the firm do
best?
Focus on internal capability and technology
Corporate Orientation: Sales - correct answer ✔✔How can we sell more of what
we have?
Focus on sales techniques
Corporate Orientation - Value-based Marketing - correct answer ✔✔What does
the customer want?
Satisfy consumer needs/wants while meeting organizational objective
societal marketing orientation - correct answer ✔✔focus on enhancing benefits to
society- how do i meet customers needs and benefit society?
the marketing concept - correct answer ✔✔make what you can sell rather than
selling what you can make
production oriented era - correct answer ✔✔"a good product will sell itself"
prior to 1920's
sales oriented era - correct answer ✔✔1920-1950- consumers buy less and make
mores themselves- great depression WWII
