Exam (elaborations)
MKT 3401 Midterm - Ledet LSU Questions And Answers 2024/2025 Update
- Course
- Institution
MKT 3401 Midterm - Ledet LSU Questions And Answers 2024/2025 Update
[Show more]
Content preview
MKT 3401 Midterm - Ledet LSUQuestions And Answers 2024/2025
Update
production orientation ANS✔✔ orientation focused on the internal capabilities of an organization as
opposed to the desires of the marketplace
Sales Orientation ANS✔✔ 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 ANS✔✔ 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 ANS✔✔ 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 ANS✔✔ 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 ANS✔✔ people giving up something in return for something else
Customer Value ANS✔✔ the relationship between benefits and the sacrifice necessary to obtain those
benefits
Four P's ANS✔✔ Product, Price, Place, Promotion
, product ANS✔✔ 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 ANS✔✔ distribution strategies are the way we make products available to individuals when and
where they want them
promotion ANS✔✔ advertising, personal selling, sales promotion, public relations. Promos role in the
mix is to bring out satisfying exchanges.
price ANS✔✔ what a buyer has to give up in order to receive a product
Elements of a Marketing Plan ANS✔✔ implementation, evaluation and control, Post-Audit Tasks.
Implementation ANS✔✔ 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.
Evaluation and Control ANS✔✔ gauging the extent to which the marketing objectives have been
achieved during the specified time period
marketing audit ANS✔✔ a thorough, systematic, periodic evaluation of the objectives, strategies,
structure, and performance of the marketing organization
post-audit tasks ANS✔✔ After the audit, three tasks remain:
Profile and make recommendations about weaknesses and inhibiting factors as well as strengths and
new opportunities.
Ensure that the role of the audit has been clearly communicated.
Make someone accountable for implementing recommendations.
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 Schoolflix. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now