MKT300 MidtermExam1 Review

MKT300 MidtermExam1 Review - Midterm Exam #1 Review 9/29/11...

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Midterm Exam #1 Review 9/29/11 1. Which is better, active learning or passive learning? ACTIVE LEARNING because your mind is interacting and you are interacting with other people. We really want to be able to creatively use concepts in real life in the long-run. 2. What is the difference between efficiency and effectiveness? a. Efficient using your resources extremely well, using minimum resources to get things done b. Effective may be using more resources than needed, but you are doing things right c. Business’s also need to be agile in addition to effective and efficient 3. Look at customer first, then competition, then government/community, then your own company 4. Virgin they do a lot of research and a lot of marketing planning, upwards of 100 successful businesses 5. Why is Kennedy’s vision not inclusive? In those days, you say you’re going to put a man on the moon and that would have been ok in those days. However now, you need to be inclusive, ex: “We’re going to put a person on the moon and return him safely” a. Visions need to be inclusive and episodic. Don’t want to have vision that is going to be linear logic where everything is laid out like rules. 6. Are core values, values of the customers? No, Core Values are values of the company 7. the Tylenol issue, their last value is the shareholders and first value was customers so get Tylenol off the shelves 8. Marketing Myopia myopic if you’re focused on product, not myopic if you’re focused on the benefit 9. Mission vs. Vision vision includes the mission. a.
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MKT300 MidtermExam1 Review - Midterm Exam #1 Review 9/29/11...

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