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MKT 320F Unit 1 Study Guide with Complete Solutions
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MKT 320F Unit 1 Study Guide with Complete Solutions Marketing - Answer️️ -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 Exchange - Answer️️ -peopl...

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  • September 15, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
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  • mkt 320f unit 1 study guide with complete solution

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  • MKT 320
  • MKT 320

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©SOPHIABENNETT
2024/2025 ACADEMIC YEAR




©SOPHIABENNETT 9/11/24 [Course title]

, ©SOPHIABENNETT 2024/2025 ACADEMIC YEAR 7:59 PM



MKT 320F Unit 1 Study Guide with
Complete Solutions


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


Exchange - Answer✔️✔️-people giving up something in order to receive something else

they would rather have

What are the five conditions of exchange? - Answer✔️✔️-1. There must be at least two

parties.

2. Each party has something that might be of value to the other party.

3. Each party is capable of communication and delivery.

4. Each party is free to accept or reject the exchange offer.

5. Each party believes it is appropriate or desirable to deal with the other party.

What are the four marketing management philosophies? - Answer✔️✔️-production

orientation, sales orientation, market orientation, and societal marketing orientation.

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




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