Marketing 300 Study Guide Exam Questions And Actual Answers.
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Course
MKT 300
Institution
MKT 300
production - Answer making goods and performing services
customer satisfaction - Answer the extent to which a firm fills a customer's needs, desires and expectations
innovation - Answer the development and spread of new ideas
marketing - Answer performance of activities that seek t...
Marketing 300 Study Guide Exam
Questions And Actual Answers.
production - Answer making goods and performing services
customer satisfaction - Answer the extent to which a firm fills a customer's needs, desires and
expectations
innovation - Answer the development and spread of new ideas
marketing - Answer performance of activities that seek to accomplish an organization's objective by
anticipating customer needs and directing a flow of need-satisfying goods and services from producer to
customer
macro marketing - Answer process of directing an economy's flow of goods from producers to
consumer in a way that effectively matches supply and demand and accomplished the objectives of
society
economies of scale - Answer as a product is produced in greater numbers, the price per unit decreases
buying - Answer purchasing a good
selling - Answer offering a good
transporting - Answer moving goods
storing - Answer holding goods
standardization and grading - Answer sorting products according to size and quality
, financing - Answer providing the necessary cash and credit to produce, transport, promote, store, sell
and buy products
risk taking - Answer bearing the uncertainties of the marketing process
simple trade era - Answer time when families traded or sold surplus output to local distributors
production era - Answer time when a company focused on production of a few specific products
because few of these products are available in the market
sales era - Answer time when company emphasizes selling b/c of increased competition
marketing development era - Answer time when all marketing activities are consolidated to one
department to improve short run policy and integrate firm activities
marketing company era - Answer time when both short-run policies are developed and long range plans
that guide the company effort under the marketing concept
marketing concept - Answer idea that an organization should aim all of its effort at satisfying its
customers at a profit
production orientation - Answer making whatever easily producible products then trying to sell them
marketing orientation - Answer trying to carry out the marketing concept
customer value - Answer difference between benefits seen from marketing and costs of reaping
benefits
micro macro dilemma - Answer what's good for some producers and consumers isn't always good for
society as a whole
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