Exam (elaborations)
CSUF MKTG 351 EXAM 1 |204 QUESTIONS AND ANSWERS.
- Course
- Institution
CSUF MKTG 351 EXAM 1 |204 QUESTIONS AND ANSWERS.
[Show more]
Seller
Follow
FREEMANSHARP
Reviews received
Content preview
CSUF MKTG 351 EXAM 1 204QUESTIONS AND ANSWERS
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 they would rather
have
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 ideas 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
organization's 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 customer's decision to purchase a product; it is
synonymous with the marketing concept
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 satisfaction - answer customers' evaluation of a good or service in terms of whether it
has met their needs and expectations
,customer value - answer the relationship between benefits and the sacrifice necessary to obtain
those benefits
relationship marketing - answer a strategy that focuses on keeping and improving relationships
with current customers
empowerment - answer delegation of authority to solve customers' problems quickly?usually by
the first person the customer notifies regarding a problem
sales orientation - answer the ideas that people will buy more goods and services if aggressive
sales techniques are used and that high sales result in high profits
customer relationship management (CRM) - answer a companywide business strategy designed
to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and
precise customer groups
on-demand marketing - answer delivers relevant experiences throughout the consumer's
decision and buying process that is integrated across both physical and virtual environments
strategic planning - answer the managerial process of creating and maintaining a fit between
the organization's objectives and resources and the evolving market opportunities
strategic business unit (SBU) - answer a subgroup of a single business or collection of related
businesses within the larger organization
Ansoff's Opportunity matrix - answer matches products and markets
market penetration (Ansoff's Opportunity matrix) - answer a marketing strategy that tries to
increase market share among existing customers
, market development (Ansoff's Opportunity matrix) - answer a marketing strategy that entails
attracting new customers to existing products
product development (Ansoff's Opportunity matrix) - answer a marketing strategy that entails
the creation of new products for present markets
diversification (Ansoff's Opportunity matrix) - answer a strategy of increasing sales by
introducing new products into new markets
portfolio matrix - answer a tool for allocating resources among products or strategic business
units on the basis of relative market share and market growth rate
star (portfolio matrix) - answer in the portfolio matrix, a business unit that is a fast-growing
market leader
cash cow (portfolio matrix) - answer in the portfolio matrix, a business unit that generates more
cash than it needs to maintain its market share
problem child (question mark) (portfolio matrix) - answer in the portfolio matrix, a business unit
that shows rapid growth but poor profit margins
dog (portfolio matrix) - answer in the portfolio matrix, a business unit that has low growth
potential and a small market share
Build (portfolio matrix) - answer If firm has item that has to potential a star then firm will decide
to give up short term profits and use it financial resources to achieve this goal ( Ex. Apple
postponed iPad for work on iPhone)
Hold (portfolio matrix) - answer if SBU is very successful cash cow, a key goal would surely be to
hold or preserve market share so that the org can take advantage of the very positive cash cow
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 $15.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82871 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now