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BA 270 - Marketing - Exam 1 – GRCC Questions and Answers
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BA 270 - Marketing - Exam 1 – GRCC Questions and Answers
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BA 270 - Marketing - Exam 1 – GRCCQuestions and Answers
Marketing ii- iiAnswers ii-The iiactivity, iiset iiof iiinstitutions, iiand iiprocesses iifor iicreating,
iicommunicating, iidelivering, iiand iiexchanging iiofferings iithat iihave iivalue iifor
iicustomers, iiclients, iipartners, iiand iisociety iiat iilarge.
Sustainability ii- iiAnswers ii-To iireflect iia iifocus iion iithe iienvironment iiand iithe
iicommunity.
Marketing iiseeks iito: ii- iiAnswers ii-1. iidiscover iithe iineeds iiand iiwants iiof iiprospective
iicustomers.
2. iito iisatisfy iithose iineeds iiand iiwants.
Exchange ii- iiAnswers ii-The iitrade iiof iithings iiof iivalue iibetween iithe iibuyer iiand iithe
iiseller iiso iithat iieach iiis iibetter iioff iias iia iiresult.
Four iiConditions iifor iiMarketing iito iiOccur: ii- iiAnswers ii-1. iitwo iior iimore iiparties iiwith
iiunsatisfied iineeds
2. iia iidesire iiand iiability iion iitheir iipart iito iihave iitheir iineeds iisatisfied
3. iia iiway iifor iithe iiparties iito iicommunicate
4. iisomething iito iiexchange
Need ii- iiAnswers ii-When iisomeone iifeels iideprived iiof iia iibasic iinecessity ii(food,
iiclothing, iishelter).
Want ii- iiAnswers ii-A iidesire iishaped iiby iia iiperson's iiknowledge, iiculture, iiand
iipersonality.
Market ii- iiAnswers ii-People iiwith iithe iidesire iiand iiability iito iibuy iia iispecific iioffering.
Target iiMarket ii- iiAnswers ii-A iifocus iion iicertain iineeds iiof iia iispecific iigroup iiof iipeople.
Marketing iiFactors ii(the ii4 iiP's) ii- iiAnswers ii-Product, iiprice, iipromotion, iiplace.
Environmental iiForces ii- iiAnswers ii-Social, iieconomic, iitechnological, iicompetitive,
iiregulatory.
Customer iiValue ii- iiAnswers ii-Combination iiof iibenefits iireceived iiby iitargeted iibuyers
iithat iiincludes iiquality, iiconvenience, iion-time iidelivery, iiand iiboth iibefore-sale iiand
iiafter-sale iiservice iiat iia iispecific iiprice.
, Relationship iiMarketing ii- iiAnswers ii-Developing iiand iimaintaining iilong-term, iicost-
effective iiexchange iirelationships iiwith iipartners.
Marketing iiProgram ii- iiAnswers ii-A iiplan iithat iiintegrates iithe iimarketing iimix iito iiprovide
iia iigood, iiservice, iior iiidea iito iiprospective iibuyers.
Market iiSegments ii- iiAnswers ii-The iirelatively iihomogeneous iigroups iiof iiprospective
iibuyers iithat ii1) iihave iicommon iineeds iiand ii2) iiwill iirespond iisimilarly iito iimarketing
iiaction.
Marketing iiConcept ii- iiAnswers ii-Meet iicustomers iineeds iiwhile iisimultaneously
iiachieving iicompany iigoals.
Market iiOrientation ii- iiAnswers ii-A iifocus iiof iiefforts iion iicontinuously iicollecting
iiinformation iion iicustomer's iineeds, iisharing iithis iiinfo iiacross iidepartments, iiand iiusing
iiit iito iicreate iicustomer iivalue.
Customer iiRelationship iiEra ii- iiAnswers ii-1980's iito iiPresent
Marketing iiConcept iiEra ii- iiAnswers ii-1950's iito ii1990's
Sales iiEra ii- iiAnswers ii-1920's iito ii1960's
Production iiEra ii- iiAnswers ii-1840's iito ii1930's
Customer iiRelationship iiManagement ii(CRM) ii- iiAnswers ii-The iiprocess iiof iiidentifying
iiprospective iibuyers, iiunderstanding iithem iiintimately, iiand iideveloping iifavorable iilong-
term iiperceptions iiof iithe iiorganization iiand iiits iiofferings iiso iithat iibuyers iiwill iichoose
iithem iiin iithe iimarketplace.
Customer iiExperience ii- iiAnswers ii-The iiinternal iiresponse iithat iicustomers iihave iito iiall
iiaspects iiof iian iiorganization iiand iiits iioffering.
1. iiuses iiindirect ii(unplanned, iiword-of-mouth, iireviews, iinews iireports) iiand iidirect
ii(buying, iiusing, iiobtaining) iiforms iiof iicontact.
Social iiResponsibility ii- iiAnswers ii-The iiidea iithat iiorganizations iiare iipart iiof iia iilarger
iisociety iiand iiare iiaccountable iito iithat iisociety iifor iitheir iiactions.
Societal iiMarketing iiConcept ii- iiAnswers ii-Organizations iishould iisatisfy iithe iineeds iiof
iiconsumers iiin iia iiway iithat iiprovides iifor iisociety's iiwell-being.
Product ii- iiAnswers ii-A iigood, iiservice, iior iiidea.
Ultimate iiConsumers ii- iiAnswers ii-People iiwho iiuse iithe iiproducts iiand iiservices iifor iia
iihousehold.
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