Exam (elaborations)
MARKETING 351 EXAM 1 |103 QUESTIONS
- Course
- Institution
MARKETING 351 EXAM 1 |103 QUESTIONS
[Show more]
Seller
Follow
FREEMANSHARP
Reviews received
Content preview
MARKETING 351 EXAM 1 103QUESTIONS
Marketing - answer The activity for creating communicating delivering and exchanging offerings
that have value for customers.
exchange - answer people giving up something in order to receive something else they would
rather have.
5 conditions of exchange - answer 1. two parties
2. each party has something of value to the other
3. each party is capable of communication and delivery
4. each party is free to accept or reject an offer.
5. each party believes it is appropriate or desirable to deal with the other.
production orientation - answer a philosophy that focuses on the internal capabilities of the
firm rather than on the desires and needs 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
marketing concept - answer the idea that the social and economic justification for an
organizations existence is the satisfaction of customer wants and needs while meeting
organizational objectives
market orientation - answer a philosophy that assumes that a sale does not depend on an
aggressive sales force but rather on a customers 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
customer value - answer the relationship between benefits and the sacrifice necessary to obtain
those benefits
customer satisfaction - answer customers evaluation of a good or service in terms of whether it
has met their needs and expectations
relationship marketing - answer a strategy that focuses on keeping and improving relationships
with current customers
empowerment - answer delegations of authority to solve customers problems quickly usually by
the first person the customer notifies regarding a problem
teamwork - answer collaborative efforts of people to accomplish common objectives
customer relationship management - answer a company wide business strategy designed to
optimize profitability revenue and customer satisfaction by focusing on highly defined and
precise customer groups
on demand marketing - answer on demand marketing delivers relevant experiences throughout
the customers decision and buying process that are integrated across both physical and virtual
environments
Marketing Mix - answer customer-> product, price, place, promotion
uncontrollable environment - answer climate, politics, economics, competition, socio cultural,
technology
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller FREEMANSHARP. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79223 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now