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MKT 3401 Midterm - Ledet LSU Questions And Answers 2024/2025 Update
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MKT 3401 Midterm - Ledet LSU Questions And Answers 2024/2025 Update
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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.
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