MKT 3401 MIDTERM - LEDET LSU STUDY GUIDE
production orientation - Answer -orientation focused on the internal capabilities of an
organization as opposed to the desires of the marketplace
Sales Orientation - Answer -the belief that people will buy more goods and services if
aggressive sales techniques are used and that high sales result in high profits
Market Orientation - Answer -the idea that a sale does not depend on an aggressive
sales force but rather on a customer's decision to purchase a product
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
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
an exchange - Answer -people giving up something in return for something else
Customer Value - Answer -the relationship between benefits and the sacrifice
necessary to obtain those benefits
Four P's - Answer -Product, Price, Place, Promotion
product - Answer -the thing being sold, its packaging, warranty, after sale service,
brand name, company image, value, and many other factors. Can be tangible or
intangible
place - Answer -distribution strategies are the way we make products available to
individuals when and where they want them
promotion - Answer -advertising, personal selling, sales promotion, public relations.
Promos role in the mix is to bring out satisfying exchanges.
price - Answer -what a buyer has to give up in order to receive a product
Elements of a Marketing Plan - Answer -implementation, evaluation and control, Post-
Audit Tasks.
Implementation - Answer -the tasks that allow an organization to implement their plan,
Implemented in a way that ensures the assignments are executed in a way that
accomplishes the plans objectives.
production orientation - Answer -orientation focused on the internal capabilities of an
organization as opposed to the desires of the marketplace
Sales Orientation - Answer -the belief that people will buy more goods and services if
aggressive sales techniques are used and that high sales result in high profits
Market Orientation - Answer -the idea that a sale does not depend on an aggressive
sales force but rather on a customer's decision to purchase a product
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
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
an exchange - Answer -people giving up something in return for something else
Customer Value - Answer -the relationship between benefits and the sacrifice
necessary to obtain those benefits
Four P's - Answer -Product, Price, Place, Promotion
product - Answer -the thing being sold, its packaging, warranty, after sale service,
brand name, company image, value, and many other factors. Can be tangible or
intangible
place - Answer -distribution strategies are the way we make products available to
individuals when and where they want them
promotion - Answer -advertising, personal selling, sales promotion, public relations.
Promos role in the mix is to bring out satisfying exchanges.
price - Answer -what a buyer has to give up in order to receive a product
Elements of a Marketing Plan - Answer -implementation, evaluation and control, Post-
Audit Tasks.
Implementation - Answer -the tasks that allow an organization to implement their plan,
Implemented in a way that ensures the assignments are executed in a way that
accomplishes the plans objectives.
