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Mizzou Marketing 3000 Midterm Exam - Keene With Complete Solutions
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Mizzou Marketing 3000 Midterm Exam - Keene With Complete Solutions...
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Mizzou Marketing 3000 Midterm Exam - KeeneWith Complete Solutions
exchange - ANSWER an individual gives up X to receive Y (when Y is something that they
would rather have)
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
philosophy, organization function - ANSWER marketing is two things: a _________ and an
__________
at least two parties, each party must have something that is of value to the other party,
each party is capable of communication and delivery, each party is free to accept or
reject the offer, each party believes it is appropriate or desirable to deal with the other -
ANSWER 5 conditions of an exchange
can, does not - ANSWER Marketing _______ occur when an exchange ______ _____
production, sales, market, societal marketing orientation - ANSWER 4 marketing
management philosophies
production orientation - ANSWER a philosophy that focuses on the internal capabilities
of the firm rather than on the desires and needs of the marketplace. Focuses more on
what the company makes than what customers want
competition is weak or demand exceeds supply - ANSWER A production supply
company can prosper when (2 things)
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