Marketing correct answers The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large
Requirements for Marketing to Occur correct answers - Parties with unsatisfied needs
- A desire and ability to be satisf...
Marketing 301 (Exam 1) || Correct answers.
Marketing correct answers The activity for creating, communicating, delivering, and exchanging
offerings that benefit the organization, its stakeholders, and society at large
Requirements for Marketing to Occur correct answers - Parties with unsatisfied needs
- A desire and ability to be satisfied
- A way for the parties to communicate
- Something to exchange
How Marketing Satisfies Consumer Needs correct answers 4 P's
Target Market correct answers Consists of one of more specific groups of potential consumers
toward which an organization directs its marketing program
Uncontrollable Forces correct answers Forces the manager cannot control
Customer Value correct answers The unique combination of benefits received by targeted buyers
that includes quality, convenience, on-time delivery, and both before-sale and after-sale service
at a specific price
Value correct answers benefit DIVIDED BY price
Relationship Marketing correct answers Links the organization to its individual customers,
employees, suppliers, and other partners for their mutual long-term benefits
Evolution of the Market Orientation correct answers - Production Era
- Sales Era
- Marketing Concept Era
- Customer Relationship Era
Production Era correct answers Focus was on mass production at an affordable price
( ie. Model T cars )
Sales Era correct answers Focus was on having lots of sales personnel on floor
Marketing Concept correct answers The idea that an organization should strive to satisfy the
needs of consumers while also trying to achieve the organization's goals
Market Orientation correct answers Focuses all its efforts on:
(1) continuously collecting information about customers' needs
(2) sharing this information across departments
(3) using it to create customer value
Customer Relationship Management (CRM) correct answers The process of idenfitying
prospective buyers, understanding then intimately, and developing favorable long-term
perceptions of the organization and its offerings so that buyers will choose them in the
marketplace
Customer Experience correct answers The internal response that customers have to all aspects of
an organization and its offerings
What is Marketed? correct answers - Goods
- Services
- Ideas
Corporate Level correct answers The level in an organization where top management directs
overall strategy for the entire organization
Strategic Business Unit (SBU) correct answers A subsidiary, division, or unit of an organization
that markets a set of related offerings to a clearly-defined group of customers
Functional Level correct answers The level in an organization where groups of specialists
actually create value for the organization
ie. R&D, Sales
Visionary Organizations correct answers (1) Establish a foundation
(2) Set a dirction
(3) Create strategies
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