Empire College School Of Business
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Marketing 
A philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction. 
 
An organizational activity, set of institutions, and processes. 
 
 
 
Marketing Mix 
product, price, place (distribution), promotion 
 
 
 
Marketing concept 
the idea that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives 
 
 
 
Corporate social responsibility 
a busi...
MKTG 351 - EXAM QUESTIONS WITH 100% CORRECT ANSWERS|GUARANTEED SUCCESS
CSUF MKTG 351 SPRING 2020 EXAM 2 REVIEW| 52 QUESTIONS AND ANSWERS
Marketing 
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​ 
 
 
 
Primary Focus of Marketing 
satisfying customers' needs and wants. Customer wants, backed by buying power, creates demand. 
 
 
 
Two Facets​ of Marketing 
(1). It is a philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction​. (2). It is an...
Pricing 
One of the 4 P's; Of the 4 P's, this one is the most unique in that: 
1. It's the only one that is revenue-generating 
2. Has a direct effect on revenue 
 
But companies often focus so much on this that they lose sight of their product's quality 
 
 
 
Pricing in Different Types of Markets 
Based on market and demand factors; 4 types: 
1. pure monopoly 
2. monopolistic competition 
3. oligopolistic competition 
4. pure competition 
 
 
 
Pure monopoly 
Single seller in marketplace; ...
States that it is legal to spam, provided: 
- Spammers do not disguise their identity 
- Emails are labelled specifically 
- Recipients are able to unsubscribe to future mails 
- Controlling the Assault of Non-Solicited Pornography 
and Marketing (CANSPAM) Act 
 
 
 
The technique that defines the scope of an information system by identifying the business process it will affect: 
Functional decomposition 
 
 
 
Customer relationship management (CRM) and product life cycle (PLM) are common types ...
new-product strategy 
a plan that links the new-product development process with the objectives of the marketing department, the business unit, and the corporation 
 
 
 
brainstorming (Idea generation) 
the process of getting a group to think of unlimited ways to vary a product or solve a problem 
 
 
 
screening (Idea screen) 
the first filter in the product development process, which eliminates ideas that are inconsistent with the organization's new-product strategy or are obviously inapprop...
What is marketing? 
satisfying customer needs and wants 
 
 
 
What are the 4 philosophies of marketing? 
product, sales, market, and social marketing orientation 
 
 
 
4 marketing philosophies: Sales Orientation 
focuses on the the capabilities of sales people to push product 
 
 
 
4 marketing philosophies: Market orientation 
focuses on the needs and wants of the customer 
 
 
 
4 Marketing Philosophies: Societal Marketing Orientation 
Focuses on needs and wants of customer and society 
 
 
...
target market 
the segment a company chooses to serve 
 
 
 
true 
segments can be categorized as: age, gender, location, purchasing powers, etc. 
 
 
 
substantiality 
each segment should be large enough that a meaningful marketing strategy cab be devised to be profitable 
 
 
 
measurability 
the importance of assessing the size of segments that marketers want to target as it is the starting point for developing a marketing strategy 
 
 
 
accessibility 
segments should be reachable 
 
 
 
dem...
Consumer Behavior 
processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and product use 
 
 
 
Consumer Decision-Making Process 
a five-step process used by consumers when buying goods or services 
 
 
 
Need Recognition 
result of an imbalance between actual and desired states 
 
 
 
Want 
the way a consumer goes about addressing a need 
 
 
 
Stimulus 
any unit of input affect...